The Securities and Exchange Commission of Pakistan (SECP) proposes to set up ‘Securities Investor Protection Corporation’ (SIPC). The purported objective is “to address investors’ complaints in case of default by a brokerage house”.
As the stocks continue to climb on a vertical limit with the KSE-100 index nearing the 30,000-level, the inevitable blizzards have forced regulators to beef up the protective measure, lest the market crashes in a nose dive.
Zafar Abdullah, Commissioner Securities Market Division at the SECP, told th thae media that the purpose of the SIPC was to “protect investors against unfair trade practices and misappropriation of clients’ assets by a broker”.
