Islamabad, The Securities and Exchange Commission of Pakistan (SECP) has launched a public consultation process for its newly drafted Securities Managers (Licensing and Operations) Regulations, 2024, aiming to enhance the regulatory framework for securities brokers who wish to offer portfolio management services.
According to Press Information Department, the SECP has released both the draft regulations and a consultation paper to gather feedback from market participants and the public. These documents outline the licensing requirements for securities managers, which include criteria such as net worth, fiduciary ratings, and research capabilities.
Additionally, the proposed regulations mandate that securities managers maintain customer funds and securities with an independent custodian to ensure transparency and security. Feedback on the draft regulations can be submitted via email to securities.managers@secp.gov.pk, and the documents are accessible on the SECP’s official website.