Stocks Observer. com

The Securities and Exchange Commission of Pakistan has issued a notification under Section 15D of the 1969 Securities and Exchange Ordinance read with section 40B of the 1997 Securities and Exchange Commission of Pakistan Act to specify the manner and form for the disclosure of inside information by the listed companies and by the persons discharging managerial responsibilities in listed companies. The notification will result in clearly defining the roles and responsibilities of the company as well as the person possessing the information. It also describes the obligation of stock exchanges with respect to dissemination of information so that no person takes undue advantage of the inside information. Now the Commission will be in a better position to prosecute the persons involved in insider trading as the presence of newly introduced statutory obligation will restrain the persons alleged of insider trading from citing legal justifications for their illegal acts in the presence...