The good news for all Bankers, Underwriters, Securities and Future Advisors that the Securities and Exchange Commission of Pakistan SECP has introduced the licensing regime with easy and simple procedures by making amendments in the rules and regulations.
With the help of newly introduced licensing regime the regulatory environment will be easier and will ensure the better participation of financial institutions in the capital market. The SECP has removed all complex requirements for licensing from the Public Offering (Regulated Securities Activities Licensing) Regulations 2017. According to new rules and regulations the banks will simply asked to submit an application for the issuance of the license. No other documents will be required for the grant and renewal of the license.
In the same way the securities and future advisors will also make annual renewal just by simple and easy way according to which the companies and scheduled banks will complete the services of advisory and distribution of mutual funds of multiple Assets Management Companies due to the amendments in Securities and Futures Advisers (Licensing and Operations) Regulations 2017.
The easy licensing regime will be helpful in minimizing the regulatory burden on capital markets intermediaries and provide a suitable environment to meet all business needs.