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Tuesday April 16, 2024

SECP seeks feedback on reforms

By Our Correspondent
March 01, 2024
The picture shows the building of the Securities and Exchange Commission of Pakistan (SECP) photo. The News/File
The picture shows the building of the Securities and Exchange Commission of Pakistan (SECP) photo. The News/File

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has formed a panel of experts to review how listed companies conduct shareholder meetings and elect directors, aiming to enhance corporate governance and protect minority investors, it said on Thursday.

The SECP said the committee had submitted its report, which included recommendations to improve transparency and efficiency in shareholder meetings, voting process, proxies, and monitoring mechanism.

The report also suggested ways to ensure effective participation and value addition by institutional investors, who often hold significant stakes in listed companies but do not exercise their voting rights, the SECP said.

The report is available on the SECP's website for public consultation until March 30, and the regulator invited feedback from all stakeholders, especially listed companies, before finalising the reforms.