SECP forms shareholder committee

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) said on Tuesday it had formed a committee of experts to review the conduct of shareholder meetings by companies listed on the Pakistan Stock Exchange (PSX) and related matters.

The SECP said the move was aimed at increasing transparency and addressing concerns of minority shareholders. The committee will review the regulatory requirements for shareholder meetings, including the election of directors and the use of proxies, and suggest reforms, the SECP said in a statement.

It will also propose a monitoring mechanism for meeting proceedings, including the recording of minutes, and identify the role of technology in enhancing efficiency, it added.