SECP aims for reduction in regulatory burden for corporates

March 30, 2021

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Aamir Khan, Chairman of the Securities and Exchange Commission of Pakistan (SECP), reaffirmed the SECP’s commitment to results-based regulation by reducing regulatory burden, simplifying laws and optimizing the use of technology. He spoke in an interactive virtual session with representatives of the Pakistan Business Council (PBC) led by the CEO, Mr. Ihsan Malik. Khan.

Aamir Khan briefed the participants on the main reforms undertaken by the Supreme Council of Education of Pakistan to facilitate business, expand access to finance, develop the capital market and increase the transparency of the functions of the regulatory body, as well as of regulated sectors.

To facilitate the business sector and ensure the desired efficiency of operations, a series of reforms have been implemented, including: a digital registration certificate, the creation of a dedicated gateway for banks to facilitate the opening of accounts and the digitization of the bank. account opening process. for residents and non-residents. Investments in the capital market, etc. Khan also highlighted a number of specific measures that have been put in place to lower the cost of doing business and supporting business after COVID-19. He said simplifying the buyback rules, amendments to issue more regulations on stocks, and updating private funds regulations and NBFC regulations would help boost the business.

Briefing participants on the SECP roadmap, he said that the introduction of certified copies with an electronic signature, the replacement of electronic services by modern records, the simplification and standardization of the legal framework for legitimate profits and growth Capital markets have been the main areas of focus for the current fiscal year. . The PBC chair assured PBC members that they would take a consultative approach to complete any organizational changes.

On behalf of the Pakistan Business Council, CEO Ehsan Malik praised SECP’s Efforts to Facilitate Businesses in the country and shared his thoughts on how to improve the business climate.