The Securities and Exchange Commission of Pakistan (SECP) has cleared 98% of its pending adjudication backlog by issuing decisions in 573 cases involving violations of corporate and financial laws. The regulator imposed fines totaling Rs. 4.73 billion in these cases.
The enforcement actions covered listed and unlisted companies, private firms, brokers, insurance companies, and non-banking finance companies. The SECP also issued 117 decisions related to violations of the Companies Act by state-owned enterprises.
The cases involved breaches of the Companies Act, Securities Act, and anti-money laundering laws. The violations included failure to submit financial statements, failure to hold annual general meetings, withholding material information, and non-compliance with corporate governance requirements.
The SECP also took action against companies for failing to appoint women and independent directors to their boards. SECP Chairman Dr. Kabir Sidhu said the commission was focused on delivering timely and evidence-based decisions.
According to the regulator, the enforcement measures are intended to improve legal compliance, strengthen corporate governance, and protect investors’ interests.
