SECP issues draft Valuers Registration and Governance Regulations, 2016 for public comments

ISLAMABAD, July 1: The Securities and Exchange Commission of Pakistan (SECP) notified the draft Valuers Registration and Governance Regulations, 2016, and had also placed the same on its website to obtain public opinion within 30 days. The draft regulations are aimed at the regulation and supervision of the work of professional valuers. The Regulations provide for the registration mechanism of professional valuers in the form of Company, on five specialized valuation panels, for which the prescribed eligibility and fit-and-proper criteria has been defined.

The practicing valuers would be registered separately on these five specialized panels, which shall segregate their eligibility criteria according to the nature of the assets to be valued. Registration of valuers on Panel-1 is for Land and Building; Panel-2 for plant and machinery, and infrastructural construction; Panel-3 for current assets, inventories,
commodities; Panel-4 for securities, intangible assets, financial assets, financial liabilities; and Panel-5 for Information Systems and Infrastructure Assets including Hardware and Software.