SECP fines 29 defaulting companies

The Securities and Exchange Commission of Pakistan (SECP) Tuesday imposed fine on 29 defaulting listed and unlisted companies. The SECP issued 38 show-cause notices for non-compliance with various provisions of 1984 Companies Ordinance in order to safeguard the interest of investors and stakeholders and to develop corporategovernance culture in the country. In addition, proceedings against four companies were closed with warnings. The department imposed penalties worth Rs 1.969 million on 29 listed and unlisted companies under the provisions of 1984 Companies Ordinance. Sixty-two investors’ complaints were also resolved during the month. staff report – Daily Times