SECP disposes of 98% of adjudication caseload

According to Mettis Global, the Securities and Exchange Commission of Pakistan (SECP) has resolved 98 per cent of its pending adjudication caseload. In total, 573 matters were concluded, with fines exceeding Rs4.73bn imposed on those found in breach of the Companies Act and other statutes. The regulator's chairman, Dr Kabir Ahmed Sidhu, said the commission intends to keep its rulings timely, transparent and grounded in evidence.

Of 969 recommendation notes available for review, 953 were examined, and the rest were processed under stricter supervision and improved case handling. The cases covered listed and unlisted firms, private companies, securities brokers, insurers and non-banking finance companies (NBFCs). The breaches related to the Companies Act, the Securities Act and other regulatory requirements.

SECP also issued 117 orders against State-Owned Enterprises (SOEs), citing common lapses such as late filing of financial statements, delayed annual general meetings and not disclosing mandatory information. Other breaches involved financial-reporting and governance rules, along with failure to appoint women or independent directors. The chairman added that SECP's priorities include faster disposal of pending proceedings, stronger rule of law, better compliance culture and protection of investors, especially minority shareholders.