The Securities and Exchange Commission of Pakistan (SECP) has issued a list of 205 brokers of the Pakistan Stock Exchange (PSX) having valid licenses to operate as Trading Right Entitlement (TRE) Certificate holders.

According to the list issued by the SECP on Thursday, the valid stock market brokers belong to Karachi, Lahore, Islamabad, and Rawalpindi.

The SECP has issued the list for the general public to carry out buying and selling activities only with the licensed stock market brokers of the PSX.

According to the SECP initiatives for the stock market brokers, the SECP’s initiatives included simplified regulations, efficient processing of listing applications, phased increase and extensions to meet minimum net worth for T&SC brokers, simplified broker licensing regime with minimal submission requirements, relaxed approval requirement for transfer/sale of shares among existing identified sponsors, simplified documentation requirements to act as Consultant to Issue(CTI), Underwriter and Debt Securities Trustee and relaxed net worth requirements for shareholding transfer through gift deed or inheritance.

The operational measures of the SECP included a new brokerage regime, and regulatory requirements commensurate with services offered operationalization of PCM to provide operational ease and efficiency to “TO brokers” – 35 TOs migrated successfully to PCM. The SECP has also reduced reporting burden on the stock market brokers by discontinuing the requirement of a separate Limited Assurance Report and rationalized reporting requirements for Liquid Capital statements.

The SECP has also facilitated brokers through account facilitation/customer help centers in collaboration with banks, AMCs, insurance companies, etc.

Source: Pro Pakistan