Date extended for implementing capital requirement

Date extended for implementing capital requirement

KARACHI: The Securities and Exchange Commission of Pakistan (SECP) on Monday extended the implementation of liquid capital requirement on securities brokers up to September 01, 2021.

Pakistan Stock Exchange (PSX) in a notice said that the SECP had approved that the cutoff date for phased implementation of minimum of Liquid Capital (LC) and relevant ratios had been further extended till September 01, 2021. Securities brokers shall be required to maintain minimum LC effective from September 01, 2021.

Securities brokers shall submit to the securities exchange and the clearing house the audited financial statements disclosing the LC or submit reviewed half yearly LC statements, whichever is applicable, depending on the end of financial year, from cutoff date of June 30, 2021 onwards as par the regulatory requirements.

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