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Thursday, December 9, 2010

SECP fines two brokerage firms

ISLAMABAD, Dec 09 : As part of its enforcement and regulatory function,the Securities Market Division of the Securities and Exchange Commission ofPakistan (SECP) has taken enforcement actions against two brokerage firms.

Fairtrade Capital Securities (Pvt) Limited, member, Karachi Stock Exchange,has been fined Rs50,000 for non-compliance with the prescribed procedure forexecution of inter-exchange trades. Salman Majeed Securities (Pvt) Limited,member, Lahore Stock Exchange, has been fined Rs25,000 for non-provision of information to the SECP. The orders are available on the SECP website.

In addition, the Securities Market Division also resolved 7 complaints lodged by investors.

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