SHOW CAUSE NOTICE ISSUED TO MESSRS FIRST PAKISTAN SECURITIES LIMITED versus
The renewal of the Certificate of R8 Registration Company, which was a member of the Stock Exchange and registered with the Securities and Exchange Commission of Pakistan, applied to the Inquiry Commission for the renewal of its registration certificate, which was disclosed. The company's financial health was seriously deteriorating as per its 2011 statements and the company was working with the Negative Equity Commission and the company was advised to invest additional equity to support its financial position, the commission said. Despite the continued guidance of the Company in taking the necessary steps to finance itself Failed. Position Taking notice of such failure, the Company was presented with a show cause notice on the commencement of proceedings under R8 of the Brokers and Agents Registration Rule 2001, a competent representative of the Company appeared and made a written statement and some justification Presented and said that some steps had been taken. In order to improve the financial position of the company, mpany has been observed that there is no complaint against the company, investors and stakeholders, in view of the steps the company has taken so far. In the larger interest of, a soft idea was taken. And the company's registration certificate was renewed The company was instructed to submit quarterly reports regarding efforts to improve its financial condition and their results until the next renewal.
Related judgments — Securities and Exchange Commission of Pakistan, 2012
