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Securities Act, 2015 replaces the 1969 Securities and Exchange Ordinance

ISLAMABAD: The Securities Act, 2015 has been implemented after being signed by President Mamnoon Hussain, ARY News reported.

Spokesman of Security Exchange Commission of Pakistan (SECP) said that the Securities Act, 2015 has been promulgated after receiving the Presidential assent and publication in the Official Gazette.

The new law will replace the 1969 Securities and Exchange Ordinance.

This comprehensive and modern law is aimed at removing the deficiencies of the earlier law and covering developments in the securities market over time. It will improve integrity, credibility and efficiency of the market by establishing and enforcing principles, which ensure fairness and promote investor confidence.

With the promulgation of the Securities Act 2015, it is expected that the securities market operations will become more streamlined and efficient and the goals of investor protection and market development will be achieved.

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