Search Results for: complaint

An issue or complaint arising out of activities that are covered under Securities and Exchange Commission of Pakistan Act, 1997; Companies Ordinance 1984; Securities Act, 2015; Insurance Ordinance 2000; Central Depository Companies Act 1997 and Rules and Regulations made there under, related to any of the entities regulated by the SECP Inter-alia the Listed companies, Stock Brokers/Sub-brokers, Stock Exchanges, Depository, Depository Participants, Registrars to an Issue / Share Transfer Agent, Mutual Funds, Credit Rating Agencies etc. may be considered a legitimate complaint. Complainants may also file complaints regarding misconduct, misbehavior or instances in which allegations of fraud are to be reported against an employee or employees of the SECP. Such matters will be reported to the Human Resource department of SECP for necessary investigation and handling. Complaints may be filed by anyone centrally with the Service Desk subject to the following requirements: ...

The complainant must provide at least his/her CNIC Or passport number and an active email address or a valid telephone contact number. Depending on the nature of the complaint the complainant must provide specific and complete information such as name of the person or entity against whom the complaint is being filed, folio numbers, CDC account details, etc. The complainant should also disclose all relevant details and documentary evidence upfront regarding any other forum where the complaint pertaining to the same issue has already been lodged. The complaint must be supported with relevant evidence. For accurate tracking, handling and reporting of the complaint, if you wish to address multiple issues through your complaint, please submit individual complaints highlighting individual issues. If a complainant wishes to maintain his/her anonymity of identity, he/she must appoint a legal representative for necessary correspondence. ...

Any issue that does not fall within the regulatory domain of the SECP such as: Complaints related to personal banking transactions or poor customer service experience with a bank Disputes arising out of private agreement with companies/intermediaries, such as terms of employment or compensation and benefits, contractual obligations etc. Seeking explanation for non-trading of shares or illiquidity of shares or not satisfied with trading price of the shares of the companies Complaints regarding an event that took place longer than 5 years ago from the time of filing the complaint. Provided that a claim may be admitted after the lapse of five years but not more than 10 years if the investor is able to demonstrate that the delay was due to reasons beyond his control. General commentaries and allegations about the state of the nation, fraud prevailing in a certain organization or general suggestions containing no specific complaint. Any other irrelevant issue ...

In certain cases, complaint handling and settlement may take longer than usual. However in such cases the concerned POC/sub-POC will be fully responsible for regularly following up with relevant forums to expedite resolution and to report the same on a regular basis to form part of complaint status and ageing reports circulated to relevant authorities within SECP. The concerned POC/sub-POC will also be responsible for updating the complainant regarding complaint status on a monthly basis. Such exceptions appear below: I. Subjudice Matters After accepting to handle a complaint it becomes evident that the complaint was already subjudice at the time of filing or that it became subjudice during the complaint handling process, the fate of all such complaints will rest with the relevant legal forum. II. Matters under adjudication at the SECP All matters which have been or shall be taken up by the SECP for adjudication for example cancellation of returns under section 468 and bu...

Upon receipt of your complaint by the Service Desk you will get a same day acknowledgment of receipt. After initial assessment the Service Desk will send the complaint to the relevant department on the same day of receipt or the following working day if the complaint is received in the late hours of the working day. Once received by the designated departmental Point of Contact (POC), within 3 days of receipt another acknowledgment will be sent to you by the concerned POC stating that the matter is under review. If the matter is irrelevant to the jurisdiction of SECP the complainant will be informed accordingly. After assessing the complaint thoroughly the POC will revert to the complainant with the status of the complaint within 15 days or a maximum of one month. If a complainant is requested to provide additional or deficient information (if any), the complainant will have a maximum of three weeks to provide the requisite information. Reminders will be sent to the compla...

Upon reporting of a complaint as resolved by the concerned POC the Service Desk will send a complaint feedback form to the complainant. All complaints at the SECP are treated seriously and regular reporting to higher authorities takes place on a periodic basis as per the Commission approved Service Desk guidelines. The Service Desk conducts regular periodic audits of complaints, an analysis of which is shared with relevant senior management on a regular basis. Additionally all negative feedback received by the Service Desk is reported back to the relevant POC for immediate redress. Reports regarding such complaints are also shared with higher management on a regular basis. SECP is committed to service excellence and encourages feedback. If you are not satisfied with the level of service you received, you are encouraged to escalate your concerns, directly to the Service Desk In-Charge (Details provided below). Complaints about SECP staff may also be sent to: Usman Khali...

Head Office Our standard business time for taking calls is from 9 am to 5 pm Monday to Friday. From 1 pm to 2 pm lunch break is observed.After 5 pm and on holidays, for complaints and queries, the SDMS portal (sdms.secp.gov.pk/) should be your first choice for lodging your concern. Alternatively, you may write to us at [email protected] and [email protected] Securities and Exchange Commission of PakistanNIC Building, 63 Jinnah AvenueBlue Area, Islamabad-44000, Pakistan...

Head Office Our standard business time for taking calls is from 9 am to 5 pm Monday to Friday. From 1 pm to 2 pm lunch break is observed.After 5 pm and on holidays, for complaints and queries, the SDMS portal (sdms.secp.gov.pk/) should be your first choice for lodging your concern. Alternatively, you may write to us at [email protected] and [email protected] Securities and Exchange Commission of PakistanNIC Building, 63 Jinnah AvenueBlue Area, Islamabad-44000, Pakistan...

Policy Board Appointed by the federal government, it guides the SECP in matters relating to its functions and approves the annual budget. It has nine members, five from the public sector and four from private sector. Currently, the Federal finance secretary serves as Chairman. Commission It is a collegiate body with collective responsibility. Operational and executive authority of the Commission is vested in the Chairman who is the Commission's CEO. He is assisted by Commissioners. Audit Oversight Board The SECP is in the process of developing an independent authority, i.e. Audit Oversight Board of Pakistan for the oversight of auditors of public interest companies to ensure adequate audit oversight. Appellate Bench It adjudicates the grievances of the parties aggrieved form the orders passed by a Commissioner or any authorized officer. It operates as per Securities and Exchange Commission of Pakistan (Appellate Bench Procedure) Rules, 2003. The administrative functions of the Appella...

INVESTOR GUIDELINES FOR LODGING A COMPLAINT COMPLAINTS AND SERVICE DESK GUIDE SECP’s primary function is to safeguard legitimate interests and rights of investors as well as its regulatees. The interest of small investors and minority shareholders is of prime importance to the Securities and Exchange Commission of Pakistan (SECP). In order to keep a vigilant eye and to provide a platform to the general public for voicing their concerns, a Vigilance Cell was set up at the SEC in 2000. This Cell later came to be known as the Service Desk which is responsible for ensuring that grievances/complaints of the general public are heard and redressed, in a quick and efficient manner. The Service Desk also provides assistance for answering general questions regarding the securities laws, rules and regulations and other relevant matters. Queries A service desk provides the very contact window to the general public, investors and regulatees for filing complaints, asking pertinent questions...