SECP prescribes certification

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has prescribed certification requirement for all persons who are involved in preparation and distribution of research reports to the public, a statement said on Friday.

The SECP took the step in line with its objective to inculcate good governance practices, promoting investor protection and having skilled personnel providing recommendations to investors of the capital market, it added.

These persons will be required to obtain the research analysts certification offered by the Institute of Financial Markets of Pakistan. All the existing research analysts have been given six months to obtain the certification, while new entrants will be required to obtain such certification within six months of intimation to the SECP as a research analyst / research entity, the statement said.  The certification requirement will also be applicable to chief executive or head of research function of the entities involved in research report publication.