“The SECP (Securities and Exchange Commission of Pakistan) and PSX have recently eased the listing process by taking several measures such as abolishing the listing committee and delegating the listing approval process to the PSX management,” PSX reported in its half-yearly report. Moreover, the PSX regulatory framework has been amended to align the PSX listing rules with the amendments notified in the Public Offering Regulations 2017 and the requirements of the Companies Act 2017 and the Securities Act 2015, the PSX said. Scam in the makingThe whistle-blower hinted that the SECP and PSX are going to become part of a scam in the making. “The regulations have been softened to declare eligible some uneligible companies to raise financing through the PSX,” he said. The changes in the listing regulations have been made in the recent past, he said.

Source: The Express Tribune March 01, 2020 03:31 UTC