As a part of its mandate to regulate the capital market and to safeguard the investors’ interest, the Securities and Exchange Commission of Pakistan (SECP) has took enforcement actions and penalised the market participants for non-compliance with the regulatory framework in January. A statement issued by SECP said an order was passed against a former fund manager of an asset management company under Section 15 of the 1969 Securities and Exchange Ordinance. Another order was issued against a brokerage house of KSE wherein the broker along with its institutional client was reprimanded for indulging in unfair trading practices.
Further, in probable instances of front running and insider trading show cause notices were served to a commercial bank, an asset management company, an employee of a listed company and an individual client under Section 15 of the above-mentioned ordinance.
