According to the notification, PSX had previously suspended trading terminals of AMCAP on September 10, 2018. The PSX board formed a sub-committee to provide an opportunity for AMCAP to defend itself in a hearing, as per PSX regulations. Effectively, this means AMCAP is no longer a recognized TRE certificate holder/brokerage firm. This development is the culmination of the ongoing saga between the PSX and AMCAP Securities. Subsequently, on April 5, 2017, the PSX released a statement, saying it had suspended the trading terminals of AMCAP for violating the PSX rule book, in relation to Client Assets’ segregation and inaccurate Bookkeeping.

Source: Pakistan Today January 31, 2020 16:18 UTC