The Karachi Stock Exchange has asked its members to furnish any claim against Noman Abid Securities (Pvt) Ltd, the incoming member or M/s Noman Abid and Company Ltd the retiring member. In its notice to all members on Thursday, the KSE has intimated that Noman Abid Securities Ltd has submitted corporate membership application on the nomination of Noman Abid and Company Ltd. The proposing corporate member is IGI Finex Securities Ltd and the second is Al Habib Capital Markets Ltd.
The SECP’s Enforcement Department— while enforcing compliance of corporate and allied laws— initiated 86 show-cause proceedings and concluded 54 proceedings against chief executives, directors and auditors of companies in February and March. While facilitating companies to strengthen their capital base, the department allowed three listed companies to issue shares by way of otherwise than right at a discount and at par. In order to strengthen the existing regime of Corporate Social Responsibility (CSR) reporting, the SECP has joined hands with the ICAP for the external assurances of the CSR reports. CSR reports assist organizations in understanding and communicating their vision of combining a company’s profitability with social responsibility and environmental care. Both the SECP and the ICAP have reaffirmed their commitment to developing a framework for external assurance in accordance with prominent international assurance standards, and within a mutually agreed time f
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