SECP launched Online financial reporting system training workshops

Online financial reporting system SECP launched training workshops for brokers

ISLAMABAD, June 27: The Securities and Exchange Commission of Pakistan (SECP) has introduced online financial reporting system for the brokers of the three stock exchanges. This system will facilitate the brokers in submission of their financial information to the SECP. This effort is a part of SECP’s overall policy to make use of information technology and automation to streamline the flow of information.

For effective implementation of this system, the SECP conducted training workshops for the brokers of the three stock exchanges. The training workshops were held between June 18 and June 25, 2013, at Islamabad, Lahore and Karachi stock exchange. The brokers were provided training to familiarize them with the use of this system.

During the workshops the brokers were facilitated in acquiring digital signatures from NIFT to sign the return and make the final submission accordingly. For their convenience officers from NIFT were present in workshops and they answered their queries regarding use of digital signature.

All the brokers will be required to implement this system starting July 2013, and will submit their information within 15 days of end of each quarter.