Chairman of SECP
Transcript of Chairman of SECP
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Securities andExchange Commission
of Pakistan(SECP)
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The Team
1.Chairman
Mr.Zafar Hijazi(19 Dec 2014)
Chartered Accountant (CA)by rofe!!ion
"re#iou!$y !er#in% a! a
co&&i!!ioner in 'C"
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Cont.
2.The Policy Board
'ecretary *inance Di#i!ion+ 'ecretary ,a- and u!tice Di#i!ion+
'ecretary Co&&erce Di#i!ion+
Chair&an of the Co&&i!!ion+ and
a Deuty /o#ernor of the 'tate anof "ai!tan ('").
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3.The Commission
he Co&&i!!ion i! a co$$e%iate body -ithco$$ecti#e re!on!ibi$ity.
3erationa$ and eecuti#e authority of theCo&&i!!ion i! #e!ted in the Chair&an -ho i! theCo&&i!!ion5! Chief ecuti#e 36cer (C3).
He i! a!!i!ted by the Co&&i!!ioner! articu$ar$yto o#er!ee the -orin% of #ariou! oerationa$
unit! a! &ay be deter&ined by hi&.
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3r%anizationa$ 'tructure
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*unction!
These are the some following functions7
re%u$atin% the i!!ue of !ecuritie!.
re%u$atin% the bu!ine!! in 'toc chan%e! andany other !ecuritie! &aret!
roo!in% re%u$ation! for the re%i!tration andre%u$atin% the -orin% of co$$ecti#e in#e!t&ent!che&e! inc$udin% unit trust schemes+
rohibitin% fraudu$ent and unfair tradepractices re$atin% to !ecuritie! &aret!
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ro&otin% in#e!tor!8 education and trainin% ofintermediariesof !ecuritie! &aret!.
encoura%in% the or%anized de#e$o&ent of thecapital market and the corporate sector in"ai!tan
conductin% inuirie! and audit! of the Stock!changesand inter&ediarie! and self"
regulatory organi#ationsin the !ecuritie!&aret.
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re%u$atin% su$stantial ac%uisition of !hare! andthe &er%er and tae:o#er of co&anie!
re%u$atin% professional organi#ationsconnected -ith the insurance $usiness.
aro#e a$$ ub$ic co&anie! incororated in"ai!tan -hich intend to i!!ue or o;er for !a$e!ecuritie! in &aret! out!ide "ai!tan or to $i!t
!uch !ecuritie! on a 'toc chan%e out!ide"ai!tan.
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'C" Di#i!ion
he 'C" i! di#ided into the fo$$o-in% four di&isions7
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,a- Di#i!ion
'$(ecti&e)
/ro-th of enterri!e rotection of in#e!tor! andcreditor! ro&otion of in#e!t&ent and
de#e$o&ent of econo&y
,a- di#i!ion di#ided into three deart&ent!7
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1.
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2.nforce&ent Deart&ent
nforce&ent Deart&ent i!re!on!ib$e for en!urin% the
$i!ted cororate !ector8!(ec$udin% >*C! Moradabadand in!urance co&anie!).
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?.Mana%e&ent ea&
Mr. Abdu$
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'ecuritie! Maret Di#i!ion
'$(ecti&e)
"rotection of in#e!tor! re%u$ation of &aret!
dea$in%! in !ecuritie!
=t ha! t-o deart&ent7
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i."o$icy
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Cont.
Capital 0ssues -ing) C0-/.
he Caita$ =!!ue! Bin% (C=B) dea$! -ith the ca!e! re%ardin% aro#a$ ofro!ectu!e! for ub$ic i!!ueo;er of !ecuritie!.
C=B a$!o roce!!e! ca!e! re%ardin% i!!ue of !ecuritie! out!ide "ai!tanunder 'ection 2:A of the Co&anie! 3rdinance 19E4.
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ii.Maret 'uer#i!ion and
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Brokers egistration and 0n&estorComplaints -ing)
he Bin% i! entru!ted -ith re%i!tration of broer!and a%ent! and hand$in% in#e!tor co&$aint!.
o en!ure in#e!tor rotection it -or! in c$o!e
coordination -ith !toc echan%e!.
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?.'ecia$ized Co&anie! Di#i!ion
'$(ecti&e)
o ro#ide a re%u$atory en#iron&ent
for the de#e$o&ent and ro&otionof a >on:an *inancia$ (>*) !ector.
"rotect the intere!t! of !hareho$der!deo!itor! and o$icyho$der! underthe re$e#ant $a-!.
.
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*or oerationa$ ea!e and enhanced e6ciency the
'CD ha! been di#ided into t-o MainDepartments:
"o$icy
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i."o$icy
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ii.'uer#i!ion andnforce&ent Deart&ent7
'uer#i!ion andnforce&entDeart&ent i!
ri&ari$y re!on!ib$efor centra$izedfunction! of 3n: !ite=n!ection 3;:!ite'ur#ei$$ance
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4. =n!urance Di#i!ion.
he &ain objecti#e! inc$ude!7
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estructuring of SCP insurance di&ision
=n!uranceDi#i!ion
"o$icy
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'C": Caita$ Maret
De#e$o&ent "$an(CMD")
he roo!ed $an -ou$d focu! onfve areas7
1. 0n&estor ducation and !panding Capital 4arket to 4asses
2. ncouraging new 5istings
3. 0ntroduction of new Products
6. 0mpro&ing coordination with &arious egulators and 7o&ernmentBodies
8. e&ing 5egal 9ramework
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1.0n&estor ducation and!panding Capital 4arket to
4asses)
'C" coordination -ith !toc echan%e!and other !taeho$der! to or%anize
road !ho-!.
=n#e!tor A-arene!! /enerationCo&&ittee to create Caita$ MaretHub! in !&a$$ citie!.
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2.ncoura%in% >e- ,i!tin%
"roce!!e! of boo bui$din% and initia$ub$ic o;erin% -ou$d be !trea&$ined to
&ae the& &ore e6cient and $e!!cu&ber!o&e.
'earate board! for faci$itatin% 'M.
'afe%uard in#e!tor! fro& in#e!tin% in
defau$tin% co&anie!.
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?.=ntroduction of >e-
"roduct!
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6.0mpro&ing coordination with&arious egulators and
7o&ernment Bodies)
=&ro#in% coordination-ith re$e#ant
&ini!trie! non:%o#ern&enta$ andforei%n in!titution! toi&ro#e "ai!tan5!i&a%eranin% in the
%$oba$ inde ro#ider!$ie the M'C= *'etc.
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G.
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Di;erence
0nternational4onetary
9und 049/
-orldBank
:S
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=M*:=nternationa$ Monitory
*und
Abbre#iation =M*
*or&ation 2 Dece&ber 194G
Me&ber!hi 1EE countrie!
Headuarter Ba!hin%ton DC.
i%%e!t orro-er! /ree "ortu%a$ =re$and
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oles 'f 0497
rac! %$oba$ econo&ic trend! and erfor&ance
A$ert! it! &e&ber countrie!
"ro#ide! a foru& for o$icy dia$o%ue
"ro#ide! o$icy ad#ice and Jnancin% to &e&ber!
'$(ecti&es7
o ro#ide the %$oba$ ub$ic %ood of Jnancia$ !tabi$ity
*aci$itate the %ro-th of internationa$ trade thu! ro&otin% job creationecono&ic %ro-th and o#erty reduction
"ro&ote echan%e rate !tabi$ity and an oen !y!te& of internationa$ay&ent!
,end countrie! forei%n echan%e -hen needed on a te&orary ba!i!
and under adeuate !afe%uard! to he$ the& addre!! ba$ance ofay&ent! rob$e&!
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Abbre#iation B
*or&ation u$y 1944
Me&ber!hi 1EE countrie! (=
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ole of -orld Bank)
/rantin% recon!truction K de#e$o&ent $oan!
"ro#idin% $oan! to %o#ern&ent! K ri#ate concern!
"ro&otin% forei%n in#e!t&ent
"ro#idin% technica$ econo&ic and &onetary ad#ice
ncoura%in% indu!tria$ de#e$o&ent
'B;CT0:S '9 -B)
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Di;erence et-een =M* K
Bor$d an
-orld Bank
Seeks to promote the economic de&elopment of the
world
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Cooeration bet-een =M* K
B
A$thou%h the an and =M* are di!tinctentitie! they -or to%ether in c$o!ecooeration7
hi! cooeration ha! beco&e &orero&inent !ince the 190!.
he an and the =M* ha#e di!tinct&andate! that a$$o- the& to contributeeach in it! o-n -ay to the !tabi$ity of the
internationa$ &onetary and Jnancia$ !y!te&and to the fo!terin% of ba$anced econo&ic%ro-th throu%hout the entire &e&ber!hi.
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he bedroc of cooerationbet-een the an and =M* i! the
re%u$ar and freuent interaction ofecono&i!t! and $oan o6cer! -ho-or on the !a&e country.
both in!titution! encoura%e other$ender! both ri#ate and o6cia$to join -ith the& in co Jnancin%roject! and in &obi$izin% credit!to countrie! that are in need.