Monthly Statements mandatory for Brokers

Securities and Exchange Commission of Pakistan (SECP) will make it mandatory for securities brokers to file monthly statements of net capital balance and liquid capital with the securities exchange and clearing house. According to the SRO 1162 (I)/2019 issued here on Monday, the FBR has issued draft amendments to the Securities Brokers (Licensing and Operations) Regulations, 2016.

Under the new regulations, a securities broker shall file monthly statements of net capital balance and liquid capital with the securities exchange and clearing house computed in a manner specified in Schedules II and III respectively, immediately after coming into force of these regulations, and shall also submit an audited statement of net capital balance as on close of second quarter of its year of accounts and shall also disclose the net capital balance in its annual audited financial statements in accordance with regulation 34, the SECP added.

Source: FBR, SECP, Business Recorder

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