Karachi Stock Exchange shuts three brokerages

The Board of Directors of the Karachi Stock Exchange (KSE) has cancelled the membership of three suspended brokers on permanent basis at the expiry of the deadline given to them to remove complaints against them.

The membership of three brokerage houses — Capital One Equities Limited, Clicktrade Limited and Eastern Capital Limited, is cancelled with immediate effect, the KSE notified on Thursday. The notification added, “The above mentioned brokers have failed to pay and address their clients/investors’ legitimate claims.

They also failed to honour arbitration award and did not fulfil their financial obligation towards the Exchange.” Earlier on June 26, SECP had suspended the membership of five brokerage houses. The two other were Prudential Securities and MKA Securities

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