Press Release For immediate Release November 8, 2016 SECP ...

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Nov 8, 2016 - SECP approves simplified regulatory requirements for mutual fund distributors. ISLAMABAD, November 8: The
Press Release For immediate Release November 8, 2016 SECP approves simplified regulatory requirements for mutual fund distributors ISLAMABAD, November 8: The Securities and Exchange Commission of Pakistan (SECP) has approved simplified regulatory requirements for distributors of mutual funds to increase the outreach of mutual funds and improve the penetration of retail investors. Mr Zafar-ul-Haq Hijazi, the SECP chairman, has said that in order to make the country’s economy grow, it is imperative to encourage mobilization of savings and investments through the capital markets. For this, the mutual fund industry has expected to play its due role in promoting a culture of savings and investment. According to the new framework, distributors selling mutual fund units of a single asset management company (AMC) will not be required to obtain license from the SECP or register with the Mutual Funds Association of Pakistan (MUFAP). A new cadre of retired government and semi-government officials, retired bank officers and insurance agents would be eligible to act as distributors of mutual funds. The SECP expects that the proposed measures would be helpful in encouraging qualified individuals to act as distributors to promote mutual funds as a preferred choice of investment. They can play a critical role in long term growth of mutual funds industry and development of capital market which is linked with the participation of investors, in particular with retail investors in the mutual funds industry. Moreover, it has the potential to create many jobs for fresh graduates as well as for experienced professionals. The SECP has made necessary amendments to the Non-Banking Finance Companies and Notified Entities Regulations, 2008, which are available for public comments on its website under below mentioned link. https://www.secp.gov.pk/laws/draft-for-discussion/draft-rules-regulations/

Securities and Exchange Commission of Pakistan NICL Building, 63 Jinnah Avenue, Islamabad Shakil Ahmad Chaudhary 0302-8552254

‫اسیاییسیپےنویملچڈنفےکمیسقتاکروںےکےئللہساابضنیطولطمباتیکوظنمریدےدی‬ ‫االسمآباد‪۸،‬ونربم‪:‬ویکسرزیٹاڈنیاجنیچسکینشیمکآفبااتسکن(اسیاییسیپ)ےنویملچڈنفےکمیسقتاکروںےکےئل‬ ‫آاسناابضنیطولطمباتیکوظنمریدیےہباہکویملچڈنفیکراسیئںیمااضہفاوررلیٹیرسامہیاکریبڑاھیئاجےکس۔‬ ‫رئیچنیماسیاییسیپانجبرفظاقحلاجح یزیبح‬

‫ےنہ اےہہکم یکک تشییکو ووک اےکےئلم لٹپامر ںوٹںےک‬

‫رکباہنیرضوریےہ۔اسوحاےلےسویملچڈنف‬ ‫ذرےعیوتچبںاوررسامہیاکریوکروہبلمعالےنیکوحہلصازفایئ ا‬ ‫اجبرکدارادارک ںے۔‬ ‫یکتعنصےسہیوتعقیکاجیتےہہکوہتچباوررسامہیاکرییکاقثتفوکفڑوغدےنیںیما ان ڑ‬ ‫ےئنفڑمیورکےکاطمقبوہمیسقتاکروجوادحاٹسیٹنمجنیمینپمکےکویملچڈنفویسٹنیکفڑ‬

‫رکےتوہںاںیہن‬

‫اسی ای یس یپ با ویملچ ڈنف یز اوسی یس انشی آف بااتسکن (ومافپ) ےس السنسئ ےک وصحل یک وکیئ رضورت ںیہن۔‬ ‫راٹیبڑڈرساکریومینرساکریا لاکروں‪،‬راٹیبڑڈ کنیاارساناور ہمیا سٹنجاکاک ایوروہویملچڈنف یزےکمیسقتاکر‬ ‫یکوطررپاکمرکےنےکا لوہںے۔‬ ‫ادیمےہہکاسیاییسیپےکوجم یزہادقاامتویملچڈنف یزںیمرسامہیاکری وکبڑیحیجااختنب ےکوطررپےکفڑوغدےنی‬ ‫ےکےئلاقبافڑادےکوطبرمیسقتاکراکمرکےنیکوحہلصازفایئںیمدمداگربایوہںے۔ہیادقاامتویملچڈنفیک‬ ‫تعنص اور رسامہی اکروں یک رشاتک ےس کلسنم م لٹپ امرٹیک یک بڑیق اخص وطر رپ رلیٹی رسامہی اکروں ےس کلسنم‬ ‫ویملچڈنفتعنصیکوطلیدمّیتومنںیمدیلکیرکدارادارکتکسںیہ۔‬ ‫زینہی ہک ےئنوروجیای ےک اسھت اسھت رجتہب اکر ہشیپ وروں ےک ےئل یئک یئن آاسایمں قیلخت رکےن یک یھب الصح‬ ‫رھکاےہ۔ اسیاییسیپےنوضاطببڑاےئریغ یکنیبوینپمکںاورونیٹافڈیئایٹنیزیٹ‪۸۰۰۸،‬ںیمرضوریبڑامیمیکںیہ‬ ‫وجوعایمآراءےکےئلویاسیےکدرجذلیکنلرپوموجدںیہ‪:‬‬ ‫‪https://www.secp.gov.pk/laws/draft-for-discussion/draft-rules-regulations/‬‬

‫‪Securities and Exchange Commission of Pakistan‬‬ ‫‪NICL Building, 63 Jinnah Avenue, Islamabad‬‬ ‫‪Shakil Ahmad Chaudhary‬‬ ‫‪0302-8552254‬‬