SECP chairman visits PSX

KARACHI: Securities and Exchange Commission of Pakistan (SECP) Chairman Farrukh H Sabzwari visited the Pakistan Stock Exchange on the invitation of PSX Stockbrokers Association (PSA), a statement said on Tuesday.

PSA Secretary General Adil Ghaffar highlighted the issues related to volumes and said that the current turnover in the stock market will eventually lead many stock brokers /TREC holders out of business.

He stressed the present regulations are cumbersome and regulatory environment should be relaxed to allow TREC holders concentrate on marketing rather than complying with over-regulations.

Sabzwari said that many of the proposals submitted by PSA have been approved and numerous are under process.

The house appreciated SECP chairman’s efforts and opened the floor for interactive session. Keen interest was observed with overwhelming response from the TREC holders.