Pakistani stock exchange law approved by parliament
27 March 2012 Islamabad
Image: Shutterstock
The Stock Exchanges Law has finally been approved in a parliamentary session in Pakistan, after the bill was passed three years ago.
The law is part of the Íø±¬³Ô¹Ï Exchange Commission Pakistan’s (SECP) efforts to bring about structural and regulatory changes through legal reforms in the non-banking financial market and the capital market.
The law provides a framework for the corporatization, demutualization and integration of the stock exchanges.
Presently, the Pakistani stock exchanges operate under a mutualized structure, whereby members have ownership as well as trading rights, inherently creating a conflict of interest that the SECP hope to change.
Other draft laws awaiting approval include Íø±¬³Ô¹Ï Law, Futures Trading Law, SECP Law and Corporate Rehabilitation Law.
The law is part of the Íø±¬³Ô¹Ï Exchange Commission Pakistan’s (SECP) efforts to bring about structural and regulatory changes through legal reforms in the non-banking financial market and the capital market.
The law provides a framework for the corporatization, demutualization and integration of the stock exchanges.
Presently, the Pakistani stock exchanges operate under a mutualized structure, whereby members have ownership as well as trading rights, inherently creating a conflict of interest that the SECP hope to change.
Other draft laws awaiting approval include Íø±¬³Ô¹Ï Law, Futures Trading Law, SECP Law and Corporate Rehabilitation Law.
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