Revised Securities and Exchange Commission of
Dear Sir,
We would like to draw your kind attention towards the enclosed report published in a section of the Press on 14-08-2011 regarding Revised SECP Act 2010 scheduled to be taken up by the National Assembly Committee on Finance as a prerequisite to its approval from the Parliament.
It appears from the Repot referred to above that the revised SECP Act 2010 has suggested to replace Appellate Bench within SECP with a Tribunal to be headed by a Retired Judge of High Court or equivalent and to increase in the amounts of fine exorbitantly/introduce various penalties for contravention or failing to comply with any provision of the SECP Act. Under the revised SECP Act 2010, all the appeals against the decisions of the SECP could be filed before the Tribunal only.
Members are requested to kindly furnish us their views/comments on the enclosed report.
Thanking you
Yours sincerely,
(Syed Masood Alam Rizvi)
Secretary General
Encl: As above
The Federation of
Federation House, Main
Tel: 0092-21-35873691,93-94
Fax: 0092-21-35874332
Eml: info@fpcci.com.pk
URL: www.fpcci.com.pk
No comments:
Post a Comment