SECP issues warning to company owners for late filing of returns

The Securities and Exchange Commission of Pakistan (SECP) has issued 21 warning lettersto the directors and beneficial owners of 13 listed companies for late filing of returns.

It also served 19 show-cause notices on the directors and beneficial owners of seven listed companies for non-compliance with 224 (2) of the Companies Ordinance.

A statement issued by SECP here Wednesday said that in order to foster a transparent and efficient securities market and to safeguard the investors’ interest, the Securities Market Division SECP took enforcement actions and penalized the market participants for grave violations of fair market practices in May.

From: Brecorder