The Securities and Exchange Commission of Pakistan (SECP) (), formerly known as Company Law Administration, Company Law Board, and Corporate Law Authority, is the corporate legislative and financial regulatory agency of Pakistan whose objective is to develop a modern and efficient

corporate A corporation or body corporate is an individual or a group of people, such as an association or company, that has been authorized by the state to act as a single entity (a legal entity recognized by private and public law as "born out of s ...

sector and a

capital market A capital market is a financial market in which long-term debt (over a year) or equity-backed securities are bought and sold, in contrast to a money market where short-term debt is bought and sold. Capital markets channel the wealth of savers ...

based on sound authority principles, in order to encourage investment and foster

economic growth In economics, economic growth is an increase in the quantity and quality of the economic goods and Service (economics), services that a society Production (economics), produces. It can be measured as the increase in the inflation-adjusted Outp ...

and prosperity in Pakistan. The SECP is a collegiate body with collective responsibility. The operational and executive authority of the SECP is vested in the Chairman who is the SECP's chief executive officer (CEO). The Chairman is assisted by four Commissioners to oversee the working of various operational units as may be determined by him. The SECP has nine company registration offices located in

Islamabad Islamabad (; , ; ) is the capital city of Pakistan. It is the country's tenth-most populous city with a population of over 1.1 million and is federally administered by the Pakistani government as part of the Islamabad Capital Territory. Bu ...

Karachi Karachi is the capital city of the Administrative units of Pakistan, province of Sindh, Pakistan. It is the List of cities in Pakistan by population, largest city in Pakistan and 12th List of largest cities, largest in the world, with a popul ...

Lahore Lahore ( ; ; ) is the capital and largest city of the Administrative units of Pakistan, Pakistani province of Punjab, Pakistan, Punjab. It is the List of cities in Pakistan by population, second-largest city in Pakistan, after Karachi, and ...

Multan Multan is the List of cities in Punjab, Pakistan by population, fifth-most populous city in the Punjab, Pakistan, Punjab province of Pakistan. Located along the eastern bank of the Chenab River, it is the List of cities in Pakistan by populatio ...

Peshawar Peshawar is the capital and List of cities in Khyber Pakhtunkhwa by population, largest city of the Administrative units of Pakistan, Pakistani province of Khyber Pakhtunkhwa. It is the sixth most populous city of Pakistan, with a district p ...

Sukkur Sukkur is a city in the Pakistani province of Sindh along the western bank of the Indus River, directly across from the historic city of Rohri. Sukkur is the List of cities in Sindh by population, third largest city in Sindh after Karachi and H ...

Faisalabad Faisalabad, formerly known as Lyallpur, is the List of cities in Punjab, Pakistan by population, second-largest city and primary List of cities in Punjab, Pakistan by population, industrial center of the Pakistani province of Punjab, Pakistan ...

Quetta Quetta is the capital and largest city of the Pakistani province of Balochistan. It is the ninth largest city in Pakistan, with an estimated population of over 1.6 million in 2024. It is situated in the south-west of the country, lying in a ...

and

Gilgit-Baltistan Gilgit-Baltistan (; ), formerly known as the Northern Areas, is a region administered by Pakistan as an administrative units of Pakistan, administrative territory and consists of the northern portion of the larger Kashmir region, which has b ...

History

The history of the Securities and Exchange Commission of Pakistan (SECP) traces back to the amendment of the Companies Act in 1956, which led to the establishment of the Board of Company Law Administration (BCLA) in 1963. Subsequent amendments in 1988 transformed the BCLA into the Company Law Board (CLB). The regulatory framework in Pakistan expanded in 1981 to include the Corporate Law Authority (CLA) under the Companies Ordinance of 1984. The process of the CLA's restructuring was started in 1997 under the Capital Market Development Plan of the

Asian Development Bank The Asian Development Bank (ADB) is a regional development bank to promote social and economic development in Asia. The bank is headquartered in Metro Manila, Philippines and maintains 31 field offices around the world. The bank was establishe ...

(ADB). The transition to the SECP was completed with the Securities and Exchange Commission of Pakistan Act of 1997, which dissolved the CLA and transferred its functions to the SECP. This act effectively nullified the earlier provisions of the Companies Ordinance related to the CLA. The parliament passed the Securities and Exchange Commission of Pakistan Act, which was promulgated in December 1997. Consequently, the SECP, having an autonomous status, became operational on 1 January 1999. The Act gave the organization the administrative authority and financial autonomy to carry out the reform program for Pakistan's capital market. The scope of the authority of the SECP has been gradually widened. The insurance sector, non-banking financial companies, and pension funds have been added to the purview of the SECP. Now the SECP's mandate includes investment financial services, leasing companies,

housing Housing refers to a property containing one or more Shelter (building), shelter as a living space. Housing spaces are inhabited either by individuals or a collective group of people. Housing is also referred to as a human need and right to ...

finance services, venture capital investment, discounting services, investment advisory services,

real estate investment trust A real estate investment trust (REIT, pronounced "reet") is a company that owns, and in most cases operates, income-producing real estate. REITs own many types of real estate, including office and apartment buildings, studios, warehouses, hos ...

and asset management services, etc. The SECP also regulates various external service providers that are linked to the corporate sector, like chartered accountants, rating agencies, insurance companies, corporate secretaries and others.

Divisions

The SECP is divided into the following divisions: * Adjudication Division * Licensing and Registration Division * Insurance Division * Legal Affairs Division * Securities Market Division * Specialized Companies Division * Supervision Division * Support Services Division

References

External links

Securities and Exchange Commission of Pakistan WebsiteSECP Corporate Laws
{{DEFAULTSORT:Securities and Exchange Commission of Pakistan Financial regulatory authorities of Pakistan Securities and exchange commissions 1999 establishments in Pakistan Government agencies established in 1999 Government agencies of Pakistan Financial services companies of Pakistan Business organisations based in Pakistan

History

Divisions

See also

References

External links