Complaint against the broker company alleging the transfer of shares from house to account in section 24 and 28 of the Central Depositories Act (XIX of 1997), sections 24 and 28, provided that the complainant received a profit on the shares owned by the complainant, And then there were unreasonable allegations leveled against the complainant's account on the demand for the said profits. That it was fraudulent to accuse the complainant of the complainant's sub-account from all of his account in the complainant's house account without any schedule being provided by the broker company. And the rules of enrollment of brokers and agents were not justified in the light of the Code of Conduct set forth in the Third Schedule of 2001; in doing so the broker company failed to maintain the highest standards of integrity, promptness and fairness in conducting its business. ? Due to the company's efforts and commitment to settle the matter in a smooth manner, no punishable action has been taken under R8 (iv) of the Commission Brokers and Agents Registration Rules 2001 and it is stated that the broker company has to caution the broker company. It was directed to fully comply with all the rules, regulations and guidelines of the Commission in the future so that in order to avoid prosecution under the law, the broker company issued a valid written transfer from all of its accounts to its House Account Broker. Failed to provide authority and legal justification. The company, under the circumstances, transferred the complainant's shares in violation of section 24 of the Central Depository Act 1997, which was the CEO's serious infringement commission, exercising powers under section 28 (2) of the Central Depository Act 1997 M
Related judgments — Securities and Exchange Commission of Pakistan, 2015
