Listed Companies: Sec 74 of Companies Act, 2017 "Power of SECP"
Reform IDF438
DescriptionSECP may require company or class of companies, through general or special order, to prepare and file financial reports as directed and the non-compliance would call for Level 3 penalty. However, it was suggested that SECP may require a company preparation of further financial reports during investigations, enforcement actions, on suspicion of wrong doing, or for extraordinary transactions.
DepartmentSecurities and Exchange Commission of Pakistan (SECP)
Jurisdiction / LocationFederal - Entire Pakistan
Sector
Start Date
Target Deadline
Date Enacted
Implementation StatusIn Progress
Progress 25%
CCORR DirectionSimplify
Cost Savings PKR (Mil.)
Evidence