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SECP fines six defaulting companies

 SECP fines six defaulting companiesAs part of its enforcement and regulatory function, the Securities and Exchange Commission of Pakistan passed 6 orders, fining defaulting listed and unlisted companies.

In order to safeguard the interests of investors and stakeholders and to develop corporate governance culture in the country, the SECP took action against non-compliant companies by issuing 40 show-cause notices for non-compliance with various provisions of the 1984 Companies Ordinance. In addition, the proceedings against four companies were closed with warnings.

Forty-two investors’ complaints were also resolved during the month.

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