A list of 205 brokers from the Pakistan Stock Exchange (PSX) with active licences to practise as holders of Trading Right Entitlement (TRE) Certificates has been released by the Securities and Exchange Commission of Pakistan (SECP).
The SECP released a list on Thursday that shows that the legitimate stock market brokers are from Karachi, Lahore, Islamabad, and Rawalpindi.
The general public may only engage in buying and selling operations through authorised stock market brokers of the PSX, according to a list released by the SECP.
The SECP’s initiatives for stock market brokers reportedly included relaxed approval requirements for transfer/sale of shares among existing identified sponsors, simplified documentation requirements to act as Consultant to Issue(r), efficient processing of listing applications, a phased increase and extensions to meet minimum net worth for T&SC brokers, and simplified broker licencing regime with minimal submission requirements.
In order to give “TO brokers” operating convenience and efficiency, the SECP’s operational measures included a new brokerage regime and regulatory standards corresponding with the services given. 35 TOs successfully transitioned to PCM. By eliminating the need for a separate Limited Assurance Report and streamlining the reporting requirements for Liquid Capital statements, the SECP has also lessened the reporting burden on stock market brokers.
To read our blog on “Supernet is moving to the main board of the PSX”,” click here
