SECP gets powers to conduct raids, seize record

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has got powers to conduct raids and confiscate record.

The federal cabinet has approved the SECP Seize and Search Rules 2019. Under the new rules, the SECP officers will be empowered to conduct raids on federal and provincial level and seize documents, laptops, mobile phones and other required equipment.

According to an official notification, the Commission officers will have the powers to enter any building or office. The officers will also have authority to break walls; windows and windowpanes of vehicles if they possessed strong evidence against anyone. They can take all the required record into their custody.