Financial Crime World

Title: SEC Pakistan’s Annual Report for Fiscal Year 2021-22: Key Highlights and Insights

The Securities and Exchange Commission of Pakistan (SECP) has released its annual report for the fiscal year 2021-22, offering valuable insights into the regulatory body’s activities and accomplishments over the past 12 months.

Committed to a Robust Capital Market

According to a press release, the annual report underscores SECP’s dedication to fostering a strong and dynamic capital market, ensuring transparency, and investing in measures that protect investors. Key achievements are outlined in several sectors:

Corporate Finance

  • Introduced Insolvency and Bankruptcy Regulations: Aiming to facilitate reorganization and resolution of distressed companies and fostering a business-friendly environment.
  • Capital Markets Development Authority (CMDA): Paving the way for an efficient insolvency process by implementing the new regulations.

Market Development

  • Approved Net 35 Public Offers and Rights Issues: Combined raised PKR 87.7 billion.
  • Reached PKR 2.3 Trillion Market Capitalization: Of listed companies.

Regulatory Reforms

  • Strengthening the Corporate Bond Market: Number of listed bonds increased by 30%, and their outstanding value grew by 18%.
  • Improving Primary and Secondary Markets for Mutual Funds: Total net asset value of mutual funds surpassed PKR 129 billion by the end of the fiscal year.

Investor Protection and Market Integrity

The report reveals that the regulatory body remained committed to investor protection and enforcing market integrity, imposing significant penalties on various market participants for violating securities laws while raising public awareness about the importance of financial literacy and investment diversification.

Conclusion

SECP’s annual report for fiscal year 2021-22 reaffirms the organization’s mission to drive the growth of Pakistan’s capital market and build investor trust. Looking ahead, the commission is determined to build upon the achievements of the past year and continue its efforts to establish a modern, efficient, and transparent financial system.

  1. Introduction of Insolvency and Bankruptcy Regulations

    • Aim to facilitate the reorganization and resolution of distressed companies
    • Fosters a business-friendly environment
    • Paving the way for an efficient insolvency process with the CMDA

  2. Corporate Finance Achievements for FY 2021-22

    • Approval of 35 public offers and rights issues
    • Raising PKR 87.7 billion

  3. Market Development Achievements for FY 2021-22

    • Total market capitalization crossed PKR 2.3 trillion mark
    • Strengthening corporate bond market
    • Improving primary and secondary markets for mutual funds

  4. Investor Protection and Market Integrity

    • Imposing significant penalties for securities law violations
    • Raising public awareness about financial literacy and investment diversification

  5. SECP’s Dedication to Driving Growth and Build Investor Trust

    • Reaffirming the organization’s mission since FY 2021-22
    • Ongoing commitment to establish a modern, efficient, and transparent financial system