SECP penalises 22 stockbrokers, stakeholders
Wednesday, 21 April 2010
ISLAMABAD, Apr 20 (Business Recorder): The Securities and Exchange Commission of Pakistan (SECP) has imposed penalties on 22 members of the stock exchanges and other market stakeholders for violation of securities laws pertaining to insider trading, price manipulation, short/blank selling, wash trades, broker misconduct and non-compliance of the listing regulations during last one year.
According to an announcement by the SECP Monday, warning letters were issued to 44 members of Karachi Stock Exchange and 6 members of Lahore Stock Exchange for possible violations. Besides, warning letters were also issued to two banks for non-compliance of the securities laws.
In addition, a stock exchange was also penalised for violation of the Securities & Exchange Ordinance, 1969.
In 22 different cases for violation of securities laws, with special reference to insider trading, price manipulation, short/blank selling, wash trades, broker misconduct and non-compliance of the listing regulations.
According to an announcement by the SECP Monday, warning letters were issued to 44 members of Karachi Stock Exchange and 6 members of Lahore Stock Exchange for possible violations. Besides, warning letters were also issued to two banks for non-compliance of the securities laws.
In addition, a stock exchange was also penalised for violation of the Securities & Exchange Ordinance, 1969.
In 22 different cases for violation of securities laws, with special reference to insider trading, price manipulation, short/blank selling, wash trades, broker misconduct and non-compliance of the listing regulations.