Sunday, June 26, 2022

SECP 2020-21 report: 51% increase in company registrations

test

The Securities and Exchange Commission of Pakistan (SECP) has issued its reports for the fiscal year 2020-21, ARY News reported. 

According to the SECP report, several improvements and easements were made to encourage ease of business and the capital market.

A total of 22 fraud companies were shut down in the fiscal year 2022-21, while an amount of Rs5 billion was accumulated as fines for different violations.

The report added that fulfilling FATF’s recommendations and the formation of a regulatory framework for the real-estate sector led to better performance in the 2020-21 fiscal year.

Also ReadSECP cautions citizens against investing in ‘illegal schemes’

Moreover, three housing finance schemes, one microfinance company and two investment finance companies were registered in the fiscal year 2020-21.

The country’s first collateral management company, the addition of 10 IPOs on the stock exchange and four exchange-traded funds were also registered.

SECP added that account opening in the stock exchange and company registration were also digitalized in the same year. There was a 51% increase in company registration in 2020-21 with 25,533 companies registered.

Comments

Latest Posts

LATEST NEWS

Comments