SECP notifies draft Private Placement of Securities rules

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) with the approval of the federal government has notified the draft Private Placement of Securities Rules 2016 and has placed them on its website for public comments within 30 days.

Since the investors in securities issued through private placement include companies that manage public funds, such as mutual funds, pension funds, employees' funds, listed companies, banks, insurance companies, etc; therefore, it is imperative to provide appropriate regulatory framework for regulating issuance of securities through private placement.

The rules will be applicable to the issuance of both debt and equity securities issued through private placement.