PSX advises securities brokers to maintain website to avoid penal action
The Pakistan Stock Exchange (PSX) has advised securities brokers to ensure their corporate websites remain functional and accessible at all times, warning that failure to comply may lead to regulatory action.
In a communication issued on Tuesday, PSX said an operational website is a key channel for brokers to engage with existing and prospective clients both locally and internationally, and to support marketing, disclosure, and investor communication activities.
The exchange noted that corporate websites serve as a central platform for publishing company profiles, financial information, product offerings, value-added services, and media updates, as well as collecting customer feedback without geographical limitations.
PSX reiterated that maintaining minimum prescribed website content is a mandatory regulatory requirement under instructions issued by the Securities and Exchange Commission of Pakistan (SECP) in a letter dated July 1, 2015. The requirement is also embedded in clause 16(1)(q) of the Securities Brokers (Licensing and Operations) Regulations, 2016.
The exchange said it has repeatedly reminded brokers over time about the importance of maintaining updated and fully functional websites and continues to monitor compliance through regular reviews.
PSX added that securities brokers are required to ensure that all minimum prescribed information remains updated and accessible in the interest of transparency and investor protection.
The exchange also stated that it conducts inspections and thematic reviews of brokers to assess compliance with regulatory requirements, including website disclosures. In cases of violations, PSX reserves the right to initiate penal action in accordance with applicable regulations.
It urged all securities brokers to ensure strict and ongoing compliance with the prescribed standards to avoid enforcement measures.