What is the meaning of SECP?

Securities & Exchange Commission of Pakistan (SECP)

Who is SECP chairman?

ISLAMABAD, May 12: The Federal Government has appointed Shaukat Hussain, Commissioner, Securities and Exchange Commission of Pakistan as the Chairman, SECP vide notification No.

How do I remove a company from SECP?

Following documents/Forms shall be filed with the concerned registrar of companies, while applying for striking off name of company.

  1. Application for striking off Company’s name (Form EE-I)
  2. Members’ Resolution (Form EE-II)
  3. Declaration/Indemnity (Form EE-III)
  4. Auditors’ Certificate (Form EE-IV)

Is B4U registered in SECP?

It added B4U is working with different companies registered with the SECP, and that the watchdog has already initiated legal proceedings against these companies and their directors.

What is the function of SECP?

The regulatory objectives of the SECP are to; maintain fair, orderly and efficient markets, promote robust corporate and insurance sector, protect rights of investors, facilitate capital formation and develop an efficient and dynamic regulatory framework.

What is Form A and 29?

Every company is required to file Form A/B and Form 29 once in a year. It is a snapshot of general information about a Company giving details of its chief executive, directors, chief accountant, secretary, legal adviser and auditors, registered office address, shareholders and share capital.

How do I register with SECP?

  1. For online submission, the user shall create account (user name and password) under user registration system of eServices and generate PIN for signing the application.
  2. Submit application by 1200 hours for same day processing.
  3. Enter data in online form.
  4. Sign the form using PIN.
  5. Submit the process.

What is the role of SECP?

What is the procedure to close a company?

The Process of Company Closure

  1. Step – 1: Calling of EGM of the shareholders.
  2. Step – 2: Surrender of Registration & Licenses.
  3. Step – 3: Bank A/c Closure & Prepare Financial Statement.
  4. Step – 4: Affidavit & Indemnity Bond of All Director.
  5. Step – 5: Filing of STK-2 Form.

What is a Section 42 company?

Section 42 Companies Any three or more persons associated for lawful purpose may by subscribing their names to the memorandum and Articles of association and complying with the requirements of the Companies Act, 2017 and Associations with Charitable and Not for Profit Objects Regulations, 2018 form a company.

Is B4U company Fake?

The Securities and Exchange Commission of Pakistan (SECP) has concluded adjudication proceedings against B4U Group and its sponsors for raising illegal deposits from the public and operating pyramid schemes, in violation of the Companies Act, 2017.

Is B4U trusted?

B4U Global has started many of the physical projects that are currently working in different cities of Pakistan, Also they are giving profit to members for the last 5 years there is even not a single person who can claim that B4U has not given profit. so we can say that B4U is not a scam but a real business.

When is the cut off date to file a SECP?

The May 31 of each financial year may be taken as a cut-off date for data to conduct necessary assessment and subsequent filing to the SECP on June 30. However, the data for month of “June” shall be included in the subsequent annual filing.

Is the Securities and Exchange Commission of Pakistan a regulator?

The Securities and Exchange Commission of Pakistan is a regulator established with the objective of developing a modern and efficient corporate sector, insurance, NBFCs and capital markets.

Where can I get help with SECP questions?

For eServices assistance, you can email your query to the help desk at “ [email protected] ”. You can also call the Service Desk at UAN: 111-117-327. How would you differentiate between direct or indirect ownership or control? Direct owner refers to individuals and entities who directly own shares in any legal entity.

What is the definition of ongoing monitoring in SECP?

Ongoing monitoring is part of the customer due diligence and essentially consists of monitoring transactions for intended purpose of the customer. Section 10 of the SECP AML/CFT Guidelines 2018 explains the mechanism of ongoing monitoring of accounts. However, entity should formulate policies and procedures for on-going monitoring.