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SECP to ensure fair, transparent capital market.

ISLAMABAD -- In line with its policy of not allowing artificially lifting the price to create false demands, the SECP is continuously monitoring trading patterns in stock market to protect interest of general investors and secure the integrity of the capital market.

The Securities Act, 2015 empowers the SECP to take immediate corrective actions for ensuring fair, transparent and efficient securities markets, says a statement issued by SECP here Wednesday.

The SECP, therefore ordered the National Clearing Company of Pakistan Limited (NCCPL) to suspend the UINs of five individual investors with effect from November 10, 2015 for a period of six months as they were found artificially lifting the price by creating a false demand.

The SECP was closely monitoring their continuous abnormal trading activity and observed that the trading partners placed significant quantum of buy orders in various scrips, during the preopen and regular trading sessions, and thereafter majority of those orders were immediately canceled, thereby creating a false market.

They also followed the same trading pattern just prior to the close of the market on numerous occasions.

Further, new regulatory frameworks are being developed under the recently promulgated Securities Act 2015 to cover entire spectrum of the capital market.

The Commission, in accordance with provision of the Act publishes a draft of the regulations in the official Gazette and places it on its website, for eliciting public opinion.

In this regard, Commission also holds interactive sessions to engage the stakeholders for their opinion.

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Publication:Balochistan Times (Baluchistan Province, Pakistan)
Date:Nov 12, 2015
Words:244
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