The Securities and Exchange Commission of Pakistan (SECP) has intensified efforts to curb financial fraud, blocking 142 illegal digital lending apps and taking action against over 50 unauthorized deposit-taking entities and fraudulent investment schemes. Complaints have been forwarded to the FIA, PTA, SBP, and Google for further action.
An MoU with the FIA now enables faster intervention against scams. SECP has issued warnings, flagged offenders on its website, and initiated legal proceedings to dissolve non-compliant entities.
A joint inspection of 64 securities brokers revealed no immediate risks, while regulatory actions in the insurance sector led to Rs162 million in refunds to policyholders. Compliance in public sector companies’ financial filings improved, rising from 34% to 51%.
Despite progress, SECP cited delays in legal enforcement, with 53 investigations and 30 cases under court stay orders. Commissioners emphasized adopting technology-driven models and international standards to strengthen oversight and ensure market stability.
The SECP’s proactive measures highlight its commitment to investor protection and transparency, aiming to secure confidence in Pakistan’s financial sector.
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