Cg & Role of SECP Securities and Exchange Commission of Pakistan ASAD ALI
The Securities and Exchange Commission of Pakistan (SECP) was set up in pursuance of the Securities and Exchange Commission of Pakistan Act, 1997. This Act institutionalized certain policy decisions relating to the constitution and structure, powers, and functions of the SECP, thereby giving it administrative authority and financial independence in carrying out its regulatory and statutory responsibilities.
The SECP became operational in January 1999 and has come a long way since then. It was initially concerned with the regulation of corporate sector and capital market. Over time, its mandate has expanded to include supervision and regulation of insurance companies, non-banking finance companies and private pensions. The SECP has also been entrusted with oversight of various external service providers to the corporate and financial sectors, including chartered accountants, credit rating agencies, corporate secretaries, brokers, surveyors etc. The challenge for the SECP has amplified manifold with its increased mandate.
Cg & Role of SECP Securities and Exchange Commission of Pakistan ASAD ALI
The Securities and Exchange Commission of Pakistan (SECP) was set up in pursuance of the Securities and Exchange Commission of Pakistan Act, 1997. This Act institutionalized certain policy decisions relating to the constitution and structure, powers, and functions of the SECP, thereby giving it administrative authority and financial independence in carrying out its regulatory and statutory responsibilities.
The SECP became operational in January 1999 and has come a long way since then. It was initially concerned with the regulation of corporate sector and capital market. Over time, its mandate has expanded to include supervision and regulation of insurance companies, non-banking finance companies and private pensions. The SECP has also been entrusted with oversight of various external service providers to the corporate and financial sectors, including chartered accountants, credit rating agencies, corporate secretaries, brokers, surveyors etc. The challenge for the SECP has amplified manifold with its increased mandate.
DISCUSSING ON VARIOUS RULES AND REGULATIONS MADE BY THE DIFFERENT COMMITTEES WITH RESPECT TO CORPORATE GOVERNANCE SO AS TO MAKE THE COMPANIES IMAGE IN A BETTER WAY FOR THE FUTURE GROWTH AND TO IDENTIFIED BY THE STAKE HOLDERS.
DISCUSSING ON VARIOUS RULES AND REGULATIONS MADE BY THE DIFFERENT COMMITTEES WITH RESPECT TO CORPORATE GOVERNANCE SO AS TO MAKE THE COMPANIES IMAGE IN A BETTER WAY FOR THE FUTURE GROWTH AND TO IDENTIFIED BY THE STAKE HOLDERS.
KUMAR MANGALAM BIRLA COMMITTEE, 1999
The Birla Committee’s recommendations consist of both mandatory recommendations and non-mandatory recommendations.
Mandatory Recommendations
Applicability: These are applicable to all listed companies with paid-up share capital of INR 3 crore and above.
Board of directors: The board of directors of a company must have an optimum combination of executive and non-eutive directors. The number of independent directors should be at least one-third in case the company has a non-executive chairman and at least half of the board in case the company has an executive chairman.
its thorough Corporate governance is the system by which companies are directed and controlled. Boards of directors are responsible for the governance of their companies. The shareholders’ role in governance is to appoint the directors and the auditors and to satisfy themselves that an appropriate governance structure is in place.
The responsibilities of the board include setting the company’s strategic aims, providing the leadership to put them into effect, supervising the management of the business and reporting to shareholders on their stewardship.
Corporate governance is therefore about what the board of a company does and how it sets the values of the company, and it is to be distinguished from the day to day operational management of the company by full-time executives.
In the UK for listed companies corporate governance it is part of the legal system as the latest UK Corporate Governance Code applies to accounting periods beginning on or after 1 January 2019 and,, applies to all companies with a premium listing of equity shares regardless of whether they are incorporated in the UK or elsewhere.
But good governance can have wider impacts to the non listed sector because it is fundamentally about improving transparency and accountability within existing systems. One of the interesting developments in the last few years has been the way in which the ‘corporate’ governance label has been used to describe governance and accountability issues beyond the corporate sector. This can be confusing and misleading as UK Corporate Governance has been built and developed to deal with the governance of listed company entities and not designed to cover all organisational types that may have different accountability structures.
Many academic studies conclude that well governed companies perform better in commercial terms.
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
Exploring Abhay Bhutada’s Views After Poonawalla Fincorp’s Collaboration With...beulahfernandes8
The financial landscape in India has witnessed a significant development with the recent collaboration between Poonawalla Fincorp and IndusInd Bank.
The launch of the co-branded credit card, the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card, marks a major milestone for both entities.
This strategic move aims to redefine and elevate the banking experience for customers.
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
2. Code of Corporate Governance
• Code of Corporate Governance was
announced in 28th march 2002 by the
Securities & Exchange Commission of
Pakistan.
Code is comprises into three mainly parts
a) Management
b) Accounts/Financial setups
c) Audit
3. 1. BOARD OF DIRECTORS
• Section 174 to 197–A of company ordinance
1984 pertains to directors of the companies
i. The Board of Directors of each listed company includes at least
one independent director representing institutional equity
interest of a banking company, Development Financial
Institution, Non-Banking Financial Institution mutual fund or
insurance company.
4. 1. BOARD OF DIRECTORS
ii. Code specifies that executive directors, i.e. working or whole
time directors, are not more than 75% of the elected
directors including the Chief Executive.
5. 1.BOARD OF DIRECTORS
iii. The directors of listed companies shall, at the time of filing
their consent to act as such,
give a declaration in such consent that they are aware of
their duties and powers under the relevant law(s) and the
listed companies’ Memorandum and Articles of Association
and the listing regulations of stock exchanges in Pakistan.
6. 1.BOARD OF DIRECTORS
a) QUALIFICATION AND ELIGIBILITY TO ACT AS A
DIRECTOR
– No listed company shall have as a director person who
is serving as a director of ten other listed companies.
– No person shall be elected or nominated as a director
of a listed company if:
• He is not a Tax Payer , non-resident excluded.
• he has been convicted by a court of competent jurisdiction
as a defaulter in payment of any loan to a banking
company, a Development Financial Institution.
7. 1.BOARD OF DIRECTORS
a) QUALIFICATION AND ELIGIBILITY TO ACT AS A
DIRECTOR
• Code also mention that no person is elected or
nominated as a director if he or his spouse is engaged in
the business of stock brokerage.
8. 1.BOARD OF DIRECTORS
• TENURE OF OFFICE OF DIRECTORS
– The tenure of Directorship is provided in section 180 of the
ordinance, code requires fulfillment of vacancy with in 30
days.
9. 1.BOARD OF DIRECTORS
• RESPONSIBILITIES, POWERS AND FUNCTIONS
OF BOARD OF DIRECTORS
– The directors of listed companies shall exercise their
powers and duties with a sense of objective judgment and
independence in the best interests of the listed company.
10. 1.BOARD OF DIRECTORS
• RESPONSIBILITIES, POWERS AND FUNCTIONS
OF BOARD OF DIRECTORS
– Every listed company shall ensure that:
(a) ‘Statement of Ethics and Business Practices’ is
prepared and circulated annually by its Board of Directors .
(b) the Board of Directors adopt a vision/ mission
statement and overall corporate strategy for the listed
company.
11. 1.BOARD OF DIRECTORS
• RESPONSIBILITIES, POWERS AND FUNCTIONS OF
BOARD OF DIRECTORS
– Every listed company shall ensure that:
(c) the Board of Directors establish a system of sound
internal control
(d) appointment, remuneration and terms and conditions of
employment of the Chief Executive Officer (CEO) and
other executive directors of the listed company are
determined and approved by the Board of Directors.
12. 1.BOARD OF DIRECTORS
a) MEETINGS OF THE BOARD
– The Chairman of a listed company, shall
• preside over meetings of the Board of Directors.
• meet at least once in every quarter of the financial
year.
• ensure that minutes of meetings of the Board of
Directors are appropriately recorded.
13. 1.BOARD OF DIRECTORS
• ORIENTATION COURSES
– All listed companies shall
• make appropriate arrangements to carry out
orientation courses for their directors to explain them
with their duties and responsibilities
• enable them to manage the affairs of the listed
companies on behalf of shareholders.
14. 2.CHIEF FINANCIAL OFFICER (CFO)
AND COMPANY SECRETARY
• APPOINTMENT AND APPROVAL
– The appointment, remuneration and terms and
conditions of employment of the Chief Financial
Officer (CFO), the Company Secretary and the
head of internal audit of listed companies shall be
determined by the CEO with the approval of the
Board of Directors.
16. 2.CHIEF FINANCIAL OFFICER (CFO)
AND COMPANY SECRETARY
• REQUIREMENT TO ATTEND BOARD MEETINGS
– The CFO and the Company Secretary of a listed
company shall attend meetings of the Board of
Directors.
17. 3.CORPORATE AND FINANCIAL
REPORTING FRAMEWORK
• THE DIRECTORS’ REPORT
The directors of listed companies shall include
statements to the following effect in the
Directors’ Report.
(a) The financial statements, prepared by the management of
the listed company, present fairly its state of affairs, the
operations, cash flows and changes in equity.
18. 3.CORPORATE AND FINANCIAL
REPORTING FRAMEWORK
• THE DIRECTORS’ REPORT
(b) Proper books of account of the listed company have
been maintained.
(c) International Accounting Standards, as applicable in
Pakistan, have been followed in preparation of financial
statements.
(d) The system of internal control is sound in design and has
been effectively implemented and monitored.
19. 3.CORPORATE AND FINANCIAL
REPORTING FRAMEWORK
• FINANCIAL REPORTING
– The quarterly un-audited financial statements of listed
companies shall be published and circulated along
with directors.
– All listed companies shall ensure that half-yearly
financial statements are subjected to a limited scope
review by the legal auditors.
20. 3.CORPORATE AND FINANCIAL
REPORTING FRAMEWORK
• RESPONSIBILITY FOR FINANCIAL REPORTING
AND CORPORATE COMPLIANCE
– No listed company shall circulate its financial
statements unless the CEO and the CFO present
the financial statements.
21. 3.CORPORATE AND FINANCIAL
REPORTING FRAMEWORK
• AUDITORS NOT TO HOLD SHARES
– All listed companies shall ensure that the firm of
external auditors or any partner in the firm of
external auditors do not at any time hold,
purchase, sell or take any position in shares of the
listed company or any of its associated companies
or undertakings.
22. 4.CORPORATE OWNERSHIP
STRUCTURE
• Every company which is proposed to be listed
shall at the time of public offering, ,offer not
less then Rs. 100 Million or 20% of the share
capital of company.
23. 5.AUDIT COMMITTEE
• COMPOSITION
– The Board of Directors of every listed company
shall establish an Audit Committee, which shall
comprise not less than three members, including
the chairman.
