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. ...

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...

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...

Corporatization and Compliance Handling of Complaints Insurance Division Specialized Companies Division Securities Market Division (SMD) Corporatization and Compliance Corporatization and Compliance Department (CROs) Process No.   Process Name/ Explanation Any Dependencies Final Approving Authority Minimum Turn Around Time (TAT) 1 Grant of License of the companies in terms of section 42 of the Companies Act, 2017. i. Compliance with the   requirements of the Associations with Charitable and Not for Profit Objects Regulations      2018.   ii. Calling/Examination of CIB reports from the SBP.     iii. Obtaining security clearance from MOI in respect            of Foreign promoters/foreign funding;   iv. Verification of promoter’s data from CRCS. v. Verification of promoters from Website of       NACTA/ UNSCR.   Commissioner- CCD  ...

ISLAMABAD, February 23: The Securities and Exchange Commission of Pakistan (SECP) has filed criminal complaint No 113 of 2017 against an employee of a leading bank, who was working as AVP investment, for being involved in insider trading....

ISLAMABAD, March 7: The Securities and Exchange Commission of Pakistan (SECP) filed criminal complaint on Tuesday against a person who manipulated the price of shares of Gauher Engineering Limited (now Drekkar Kingsway Limited). As a result of an investigation, it emerged that the accused and his associates bought a major stake in Gauher Engineering Limited in 2014 at a very subsidized rate....

ISLAMABAD, March 29: The Securities and Exchange Commission of Pakistan (SECP) has filed a criminal complaint against an employee of a leading bank for his alleged involvement in insider trading. The main accused, Syed Misbah Uddin Rizvi, was serving as head, equity and capital market, in the said bank and was responsible for the placement of orders for equity investment/ disinvestment of shares on behalf of the bank....