SECP to notify Valuers Registration and Governance Regulations after amending the SECP Act

ISLAMABAD, July 5: The Securities and Exchange Commission of Pakistan (SECP) notified the draft Valuers Registration and Governance Regulations in April 2016 and placed them on its website to obtain public comments.

The regulations have been developed under the existing provisions of Sections 20 and 40 of the SECP Act, 1997, which empowers the Commission to make regulations. The Commission in its meeting on July 1, 2016, decided to issue these regulations under the amended provisions of Section 20 of the SECP Act, which give specific powers to the Commission to constitute a regulatory framework for oversight of the professional valuers providing services relating to valuation of assets of the companies.