SECP adjudication to continue online amid COVID-19 pandemic

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SECP

ISLAMABAD: To ensure continuity of adjudication function while keeping the health and safety of respondents at forefront, the Securities and Exchange Commission of Pakistan (SECP) has decided to conduct hearings through video conferencing facility where respondents can make their hearing submissions from their respective safe locations, be it their offices or homes.
This decision has been taken in response to disruptions caused by COVID-19 emergency; however, it will be a permanent facility for participating in SECP adjudications related hearings, said a statement issued here on Wednesday.
To this effect, the Commission has approved major adjustments in standard operating procedures and internal guidelines allowing service of notices and orders through email, use of video conferencing facility for conducting hearings and extension in timelines for adjudication processes. The show cause notices and orders will now be served on respondents through emails. This will be in addition to traditional postal dispatches on registered address.
Moreover, for companies whose offices might close or access to relevant records is not possible, the SECP has decided to relax submission timeline on request. These facilitative changes will create ease across all regulated sectors of SECP.
During this period of collective national emergency, the SECP has ensured continuity of operations, providing prompt, targeted regulatory relief and preserving our enforcement and investor protection efforts. Social media and electronic means has become the preferred medium of communication at the SECP. – TLTP