Karachi January 29 2023: Securities and Exchange Commission of Pakistan has cancelled the broker licenses of eight TRE Certificate holders, according to notification issued by Pakistan Stock Exchange.
These houses include Royal Securities (Pvt) Limited, SMAC Investments (Pvt) Limited, Bismillah Securities (Pvt.) Limited, Merchant Investments (Pvt.) Limited, Cedar Capital (Pvt) Limited, Patel Securities (Pvt.) Limited, Market 786 (Pvt.) Limited and Lakhani Securities (Pvt.) Limited.
Out of these TRE holders, Royal Securities (Pvt) Limited, SMAC Investments (Pvt) Limited and Bismillah Securities (Pvt.) Limited license are suspended by Pakistan Stock Exchange while the rest of the houses themselves applied for voluntary surrender of TRE Certificates and as a consequence their trading terminals were deactivated due to voluntary surrender.
Royal Securities (Pvt.) Limited and SMAC Investments (Pvt.) Limited licenses are suspended due to regulatory breaches and TRE holders did not applied for renewal of broker license. Bismillah Securities (Pvt.) Limited license is suspended due to regulatory breaches but not recommended for renewal of broker license.
