The Securities and Exchange Commission of Pakistan, which is also referred to as SECP, is the primary financial regulatory agency in the country. Headquartered in Islamabad, the objective of this institution is to foster economic growth by developing an orderly and dynamic corporate sector, protecting the rights of investors, assisting in capital formation and maintaining an efficient regulatory network.
It is also responsible for the registration, licensing, and supervision of companies, businesses and capital markets in Pakistan.
To help you learn more about the SECP, we have put together a comprehensive guide detailing its functions, services, contact information, and more.
Without further ado, let’s begin.
About the Securities and Exchange Commission of Pakistan
The SECP became operational in 1999 after the promulgation of the Securities and Exchange Commission of Pakistan Act, 1997. It was the successor to the Corporate Law Authority or CLA, which functioned under the Ministry of Finance.
At first, the Securities and Exchange Commission of Pakistan was tasked with the regulation of the capital market and corporate sector. However, its mandate was eventually expanded and the institution was entrusted with the supervision and regulation of non-banking finance companies (NBFCs), private pension schemes and insurance companies. It also oversees the service providers to the financial and corporate sectors.
The Securities and Exchange Commission of Pakistan has also partnered with the National Clearing Company of Pakistan Limited, Islamabad Stock Exchange, Karachi Stock Exchange, Lahore Stock Exchange, Pakistan Mercantile Exchange, Central Depository Company, and Mutual Funds Association of Pakistan to spread awareness about the benefits of investing in financial products available in the country.
Functions of SECP
These are the main functions of the Securities and Exchange Commission of Pakistan
- Registration and licensing of companies
- Regulating corporate sector
- Regulating capital markets
- Supervising and regulating insurance companies, NBFCs, and private pensions schemes
- Overseeing of external service providers such as corporate secretaries, chartered accountants, brokers, credit rating agencies, and surveyors to name a few
Here is a step by step guide for registering a construction company in Pakistan that you may find helpful.
Organisational Structure of SECP
As per the organogram of SECP, the institution is headed by a commission, which vests the executive and operational authority in the chairman. The chairman of the Securities and Exchange Commission of Pakistan is assisted by four commissioners, all of whom head different divisions.
The Securities and Exchange Commission of Pakistan consists of the following divisions:
- Company Law Division
- Prosecution and Legal Affairs Division
- Adjudication Division
- Support Services Division
- Insurance Division
- Securities Market Division
- Specialized Companies Division
All of these divisions are further divided into multiple departments.
Businesses and Capital Markets Regulated by SECP
Here is a list of capital markets and businesses regulated by the Security and Exchange Commission of Pakistan.
- Stock and commodity exchanges
- Stock and commodity brokerage business
- Insurance companies
- Insurance brokerage business
- Depository and clearing institutions
- Investment advisory business
- Investment banking business
- Asset management business
- Leasing companies
- Credit rating companies
- Mutual fund distributors
The relatively new e-services feature has made it much easier for business owners and entrepreneurs to register companies with the Securities and Exchange Commission of Pakistan.
These services can be accessed around-the-clock through the online portal launched by the SECP, which is fully integrated with the Federal Board of Revenue, Punjab Business Registration Portal, Sindh Business Registration Portal, and the Employees Old-Age Benefits Institution (EOBI).
As far as the benefits of SECP e-Services are concerned, there are quite a few. For starters, they allow users to register on the online portal from anywhere in the world. The process of creating a new account is also very straightforward and hassle-free. Moreover, the user only has to pay PKR 100 for the online registration, which will be charged the time of submission of documents.
It is also pertinent to mention that there are two types of users registered by SECP e-services:
Primary User: A person who is authorised to sign documents electronically on behalf of the company.
Secondary/Intermediary User: These users are added to the account by the primary user. The secondary and intermediary users are also authorised to sign the documents electronically on behalf of the company. However, the primary user has an option to remove them from the account.
Moreover, as per the Securities and Exchange Commission website, e-service users have to pay a lower fee compared to those who opt for the physical submission of documents. It also saves you a trip to the Company Registration Offices, which are located in all major cities across Pakistan.
Here are some of the facilities you can avail through the e-services of Securities and Exchange Commission of Pakistan:
- Reserving the name of the company
- Incorporation of the company
- Changing the name of the company
- Modifying the address of the company
- Altering the objectives of the company
- Changing the status of the company
- Filing statutory returns
The SECP forms, guides and flyers are also available for download on the official website.
Furthermore, other than the services mentioned above, the Securities and Exchange Commission of Pakistan website also allows users to submit an online complaint and use the ‘Company Incorporation Fee Calculator’ to determine how much charges they are supposed to pay, based on the amount of nominal share capital.
SECP Contact Details
The contact details for the Securities and Exchange Commission of Pakistan are as follows:
SECP Head Office
Address: Securities and Exchange Commission of Pakistan, NIC Building, 63 Jinnah Avenue, Blue Area, Islamabad
Timing: 9:00 AM to 5:00 PM
Toll-Free Number: 0800-88008
SECP Helpline: 051-111-117-327
Email: email@example.com and firstname.lastname@example.org
SECP Company Registration Offices
Let’s take a look at the addresses and contact details for Company Registration Offices in Pakistan.
Address: State Life Building 7, Jinnah Avenue, Blue Area, Islamabad
Phone Number: 051-9208740, 051-9206219
Address: State Life Building No 2, Fourth Floor, North Wing, Wallace Road, I.I. Chundrigar Road, Karachi
Phone Number: 021-99213271-2
Address: 3rd &4th Floor, Associated House, 7-Egerton Road, Lahore.
Phone Number: 042-99204962-6
Address: 1st Floor, State Life Building, The Mall, Peshawar Cantt.
Phone Number: 091-9213178
Address: Ground Floor, Aiwan-E-Mashriq Building, Opposite Fc Headquarter, Shara-E-Hali, Quetta.
Phone Number: 081-2844136
Address: 63-A, 2nd Floor, Nawa-I-Waqt Building, Abdali Road, Multan.
Phone Number: 061-9200920
Address: 2nd Floor, FCCI Building, East Canal Road, Faisalabad
Phone Number: 041-9230264
Address: First Floor, House No 4, Block A, Sindhi Muslim Cooperative Housing Society, Airport Road, Sukkur.
Phone Number: 071-5630517
Address: Adjacent to NHA Office, Ayub Colony, Jattial, Gilgit.
Phone Number: 05811-922572
This brings an end to our overview of the Securities and Exchange Commission of Pakistan. If you have any queries or questions, please get in touch with the help desk at the financial regulatory authority through its helpline.
Meanwhile, if you are looking for investment options in Pakistan, don’t forget to check out our guides on the best opportunities for small-scale investors, types of rental property to invest in, and tips on how to start preparing for your retirement.
To learn more about the government institutions and initiatives in the country, stay tuned to Zameen Blog – the top lifestyle and real estate blog in Pakistan.
Disclaimer: Please note that the information mentioned above has been extracted from the official website for the Securities and Exchange Commission of Pakistan.