SECP refutes press reports regarding crackdown against companies for recovery of gold and valuable properties

ISLAMABAD, July 9: Being the apex regulator of the corporate sector, the SECP is taking all necessary steps to ensure beneficial regulation and growth of capital market and corporate sector in Pakistan.

SECP strongly refutes news items appearing in a section of the press attributing any purported action against companies “to recover gold and other valuable properties”.  No crackdown of any sort is being planned or under consideration of the Commission.

It is also clarified that SECP does not regulate or enforce Income Tax Ordinance, 2001 or Benami Transactions (Prohibition) Act, 2017. SECP powers are restricted to offences provided in the SECP Act, 1997, and other administered legislation as provided in its Schedule.