SECP, FIA to work together on capital market cases

ISLAMABAD: On the direction of Interior Minister Chaudhry Nisar, the FIA and SECP formed a coordination committee on Tuesday. In its first session, the FIA agreed to take the SECP into confidence while investigating cases related to the capital market.

The cooperation will be limited to capital matters. The committee aims to do away with speculations in stock market. Recently, FIA has arrested three officers of the AKD Securities for issuing a wrong report. Brokers have demanded the power to take such action should rest with the SECP. Finance minister had advised Nisar to form this committee. The committee will play the role of a coordinator between the FIA and SECP in investigation of the three AKD Securities officers.