SECP news - corporate registrations, mutual fund frameworks, disclosure requirements.
SECP has issued draft rules tightening bid, performance, advance-payment and customs guarantees issued by insurers, adding stricter solvency assessments and clearer claim-payment obligations. The framework aims to cut contractual uncertainty and litigation in construction and trade.
SECP Chairman Kabir Ahmed Sidhu launched an 'Insured Pakistan' digital platform, flagging that only 0.85% of insurance premiums flow through digital channels despite the sector holding PKR 4tn in assets. He noted about 97% of vehicles run without mandatory third-party motor cover.
SECP Commissioner Muzaffar Ahmed Mirza urged the Sialkot Chamber of Commerce to formalise via corporatisation, citing digital services and streamlined compliance. Corporate registration is seen as key to widening Pakistan's documented tax base.
SECP has issued Pakistan's first ESG Mutual Funds Framework, letting AMCs launch environmental, social and governance funds. At least 50% of assets must be ESG-aligned, with mandatory disclosure and independent assurance rules to curb greenwashing.