Stocks Observer. com

The development of transparent and efficient securities market is one of the prime objectives of the Securities and Exchange Commission of Pakistan (SECP). Accordingly, Securities Market Division of the SECP took enforcement actions and penalized the market participants for non-compliance with the regulatory framework during the month of March. Subsequent to the onsite inspections, enforcement actions were taken against three brokerage houses of the Karachi Stock Exchange Limited. A penalty of Rs500,000 was imposed on KASB Securities Limited primarily for   failure to maintain segregation of clients’ assets by the brokerage house. Moreover, a   penalty of Rs100,000 was imposed on   DJM Securities (Private) Limited  because of  irregularities identified in the calculation of net capital balance. Furthermore, a warning letter was issued to Time Securities (Private) Limited in the same context. In addition, 12 orders were passed for late filing of returns of beneficial owne