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ALFALAH SECURITIES (PVT.) LTD. versus COMMISSIONER (SECURITIES MARKET DIVISION) SEC

Sections 7 (1) (d), 15A, B and 22 (1) (C) Regulations for Brokers and Agents Registration, 2001, Rr 8 (ii), (iv) and 8 (a) (b) Securities and The Exchange Commission of Pakistan Act (XLII of 1997), imposed under section 15B of the Securities and Exchange Ordinance, 1969, on the implementation of section 33 penalty scope commissioner (Securities Market Division), imposed a penalty of Rs 72,150 on the appellant. Was charged, which was equal to the profit earned. Its parent company Impeachment Order did not specify whether the ordinance was fined under subsection (3) or (4) of section 15B of the Commission, of any kind under section 15B It is not authorized to impose a penalty, whether subsection (3) or (4) with the Commissioner of Securities and Exchange Ordinance, 1969, however, under section 15B (3) of the Securities and Exchange Ordinance, 1969 The authority was to pay compensation directly to the person who suffered the loss as a result of the case. Internal information The suspect did not determine where a person was hurt After the commission increased compensation, it was possible that the commissioner could mistakenly use the German term for the compensation term, appeal. The assessee's confession that he was punished twice for the same crime was inadmissible as the appellant was convicted of two different crimes and not. One offense; first for insider trading under Section 15A of the Securities and Exchange Ordinance, 1969. And secondly, the Code of Conduct for Brokers and Agents Registration Rules, 2001 Rule 8 (Iiv), and the terms used in the Morning Note, which are contained in it. advocates from Bhan Saeedabad lawyer