SECP Cancels Licenses of Four Securities Brokerages Due to Regulatory Violations

The Securities and Exchange Commission of Pakistan (SECP) has revoked the licenses of four securities brokerages due to non-compliance with regulations.

As a result, the Pakistan Stock Exchange (PSX) has suspended or deactivated the trading terminals of the affected firms.

The SECP listed the following firms:

• First Choice Securities Limited: The firm voluntarily relinquished its Trading Right Entitlement (TRE) Certificate, prompting the deactivation of its trading terminals.
• Surmawala Securities (Private) Limited: The company applied to voluntarily surrender its TRE Certificate and did not request renewal of its broker license. This led to the deactivation of its trading terminals.
• First National Equities Limited: The firm was suspended for violating regulations and failing to apply for the renewal of its broker license. Consequently, its trading terminals were suspended by PSX.
• Falki Capital (Private) Limited: This firm faced suspension due to regulatory violations. It also voluntarily surrendered its TRE Certificate and did not seek license renewal, leading to the suspension of its trading terminals.

Both the SECP and PSX have stressed the necessity of complying with regulatory requirements and timely license renewal to maintain smooth operations and uphold market integrity.