ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has directed the securities brokers that the minimum net worth requirement for Trading and Self Clearing category shall be increased to Rs 60 million from April 1, 2022.
The SECP has issued an SRO 1665 (I)/2021 to amend Securities Brokers (Licensing and Operations) Regulations 2016, here on Saturday.
According to the notification, the minimum net worth requirement for Trading and Self Clearing category shall be increased to rupees 60 million with effect from April 01, 2022 and shall be further increased to Rs 75 million with effect from April 01, 2023 or such extended dates as specified by the Commission.
Under the new brokers regime for stock market brokers, they were divided into three categories i.e. small-sized brokers (trading only brokers), trading & clearing broker, and trading & self clearing brokers.
Copyright Business Recorder, 2022
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