SECP launches online financial reporting system for brokers

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has introduced an online financial reporting system for the brokers of the three stock exchanges and also conducted workshops for them.This system will facilitate the brokers in submission of their financial information to the SECP, said an SECP here Thursday.The statement said that the effort was 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 from June 18 to 25 at Islamabad, Lahore and Karachi stock exchanges.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 from July onwards and will submit their information within 15 days of end of each quarter, the statement added.Copyright APP (Associated Press of Pakistan), 2013

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