Karachi August 5 2024: All Securities Broker “SB” (Trading Only with limited Custody, Trading & Self Clearing, Trading & Clearing) and Professional Clearing Member “PCM” are hereby notified to submit Audited/ Reviewed (whichever is applicable) Liquid Capital “LC” statement as of June 30, 2024 in accordance with Regulation of Securities Brokers (Licensing & Operation) Regulations, 2016, states Pakistan Stock Exchange.
In light of the above, SBs and PCM whose financial year end is June 30 shall submit their annual audited financial statements including LC statements to NCCPL latest by October 31, 2024.
SBs’ (or PCM) whose financial year end is Dec 31 shall submit their external auditor’s reviewed LC statements to NCCPL latest by September 16, 2024.
Further, SBs’ who wish to allocate a portion of their LC for Debt Market trading are requested to intimate allocated values to NCCPL accordingly in line with the NCCPL regulations 2015.
The exposure will be allowed based on the Lower of Audited and Unaudited Liquid Capital Certificate submitted to NCCPL as per NCCPL Regulations 2015.
“In case of non-submission of statements of liquid capital within a time period as may be notified by the exchange, and clearing house or any shortfall in the liquid capital, either reported by the securities broker or identified by the securities exchange, clearing house or the Commission, the securities exchange, and clearing house shall immediately restrict the trading facility of such securities broker and shall only allow it to close out the open position in a controlled environment” states regulation.
In addition to the above reviewed/ audited statements; CMs shall continue to submit monthly unaudited Liquid Capital “LC” statements with securities exchange and clearing house as per Regulation 6(3) of Securities Broker (Licensing & Operation) Regulations, 2016, in a timely manner.
