Securities and Exchange Commission of Pakistan introduces Online Financial Reporting System for TREC Holders/Brokers
Islamabad, April 19, 2013 (PPI-OT): In continuation of its efforts to strengthen the surveillance of equity markets, the Securities and Exchange Commission of Pakistan (SECP) has introduced online Financial Reporting System for the TREC holders/Brokers of the three stock exchanges. From July 2013 onwards, all TREC holders/brokers will be required to file their financial information online within 15 days of the end of each quarter. This effort is a part of Commission’s overall policy to make use of information technology and automation and to streamline the flow of information.
Introduction of this online system will provide timely financial information with respect to TREC holders/Brokers and enable the Commission to proactively monitor their financial soundness and take pre-emptive measures for the protection of investors. For effective implementation of this system, the SECP will organize training sessions for the brokers at all the three Stock Exchanges.
Brokers will also be provided hands on training in effective use of the system. At the time of training, specific login IDs and passwords to access the system will be provided to each broker. For further facilitation and to address the queries of the brokers concerning this system, an online service desk will also be available on the Commission’s website.
1. SECP introduces Online Financial Reporting System for TREC Holders/Brokers
2. Brokers will be required to file their financial reports through the online reporting system from July 2013 onwards
3. The Brokers, TREC holders shell have to submit their financial reports within 15 days of end of each quarter.
4. The SECP will organize training sessions for the Brokers at all the three stock exchanges.
For more information, contact:
Shakil Ahmad Chaudhary
Head, Internal and External Communication
Securities and Exchange Commission of Pakistan (SECP)
NIC Building, 63 Jinnah Avenue, Islamabad
Tel: +9251 921 4005 or 921 4009 (Ext. 378)
Fax: +9251 920 6459
Cell: +92302 855 2254