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The SDLER Division
Strategy, Development, Legislation and External Relations Department (SDLERD) provides strategic analysis on internal and external matters related to the Securities and Exchange Commission of Pakistan (SECP), conducts research to frame policies and procedures for the growth and development of non-banking financial markets and preparation of all draft laws and regulations for the Commission. It has been mandated to prepare roadmaps, in light of international best regulatory and market practices and in consultation with stakeholders, for the development of debt market, derivatives market, commodities and currency exchange, mutual funds, non-banking financial sector including modaraba sector, insurance and equity market.

In addition to above, SDLER is the focal point for multilateral agencies, international and local regulatory bodies, implementation of regulatory standards, AML regime, federal and provincial governments, local standard setting bodies, and investor education and complaints. It also maintains close liaison with the print and electronic media for dissemination of information relating to key regulatory measures and initiatives undertaken by the Commission.

Operational Structure

SDLER has been structured in the following manner to better align its functions and responsibilities:

  • Strategy, Development and External Relations Department
  • Legislation and General Counsel Department
Functional Profile
The functional profile of wings is as follows:
The Strategy, Development and External Relations Department is divided into following wings:

Strategy and International Relations
Strategy and Development

  • Conduct strategic analysis of internal matters pertaining to the Commission.
  • Conduct research and engage external stakeholders for the growth and development of debt market, mutual funds, non-banking financial sector including Modaraba sector and insurance sector.
International Coordination
  • Multilateral agencies: Lead negotiation and coordinate with Asian Development Bank, World Bank, International Finance Corporation, International Monetary Fund, etc. on various projects and programs
  • Bilateral cooperation: Liaison and oversee bilateral agreements (MOU) with counterpart international regulatory authorities on cooperation, enforcement assistance and information sharing.
  • International Assessments: Coordinate and work on international assessments such as Pakistan’s Financial Sector Assessment Program (FSAP), Report on the Observance of Standards and Codes (ROSC), Poverty Reduction Program, Asia Pacific Group (APG), etc.
Local standard setting bodies
  • Coordinate with local standard setting bodies like Pakistan Institute of Corporate Governance, Institute of Capital Market, etc.
  • Review Code of Corporate Governance.
  • Implementation of existing SECP Corporate Social Responsibility (CSR) initiatives and assist the Commission in undertaking new CSR initiatives.

Market Development and Investor Education
Strategy and Development
  • Conduct strategic analysis of external matters pertaining to the Commission
  • Conduct research and engage external stakeholders for the growth and development of derivatives market, commodities and currency exchanges and equity market.
Local Coordination
  • Coordination on correspondence received from Federal and provincial governments, ministries and Parliament.
  • Coordination with local regulatory bodies like State Bank of Pakistan, Federal Revenue Board, Competition Commission of Pakistan, etc.
  • Implementation of AML regime.
  • Matter related to Exit Control List.
International Standard Setting Bodies
  • Liaison with and oversee all the work related with regulatory standard bodies like International Organization of Securities Commission (IOSCO), International Organization of Pension Supervisors (IOPS) and International Association of Insurance Supervisors (IAIS) and Financial Action Task Force (FATF) for implementation of AML regime.
Develop and oversee Commission’s investor education and awareness program along with investor complaint database in coordination with the operational divisions.

Media and Publication Wing

  • Maintain a regular liaison with print and electronic media to provide information on the reforms introduced by the Commission. Organize regular press briefings on various reform measures.
  • Work on the Commission’s publications including the Annual Report, quarterly news letter and website.
  • Provision of material for Economic Survey of Pakistan, Report on Quality Assurance Procedures, Report on Principles of Policy, Finance Minister’s budget speech, and Prime Minister/Finance Minster messages for different forums.

Legislation and General Counsel Department is divided into following wings:

Legislation Wing
The Commission, at the moment, is administering more than 44 primary and secondary laws. The Legislation Department is entrusted with drafting/amending and vetting all legislation for the Commission. It also provides its input, where sought, on notifications, circulars, directives etc issued by the operational Divisions. In addition, the department examines laws referred to the Commission by the Federal Government for its comments and feedback.

General Counsel Wing
The General Counsel Wing is responsible to advise the Chairman, Commissioners, Divisions and Departments on any important legal issue referred to them.

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