SECP clears adjudication cases backlog

According to The Express Tribune, the Securities and Exchange Commission of Pakistan (SECP) has disposed of 98 per cent of its adjudication caseload. The regulator issued decisions in 573 cases and imposed penalties exceeding Rs4.73 billion for violations of company and securities laws. Reviews covered 953 of the 969 recommendation notes open for assessment, and the remaining items were processed until the entire backlog was cleared.

Proceedings covered listed, unlisted and private companies, along with brokers, insurance firms and NBFCs. The commission also issued 117 adjudication orders against state-owned enterprises, citing failures such as delayed annual general meetings and missing financial statements. Other breaches included non-disclosure of required information and a lack of women and independent board members.

Separately, the SECP approved Shaamilkar Tajir, a digital app offering Shariah-compliant financing of up to Rs3 million for small businesses. Developed by Shaamilkar Financial Services, it lets micro-entrepreneurs buy inventory from approved suppliers through a faster online process. The approval supports the federal government's SME finance agenda, with licensed NBFCs providing Rs253 billion through 2.5 million loans between July 2025 and June 2026.