SHOW-CAUSE NOTICE ISSUED TO SALMAN MAJEED SECURITIES (SMC-PRIVATE) LIMITED versus
8, 12 and Third Schedule The Company's account from the securities' central account related to CDC sub-account holders regarding the implementation of misleading and inaccurate information regarding the movement of securities, penal securities and exchange commissions. Asked about the movement of company securities up to the account. February, 2010 to April, 2010; As stated that securities are not part of the Company's proprietary trade, it is stated that the movement of securities is related to the period from February 2010 to April 2010, while the company has not Provided misleading and inaccurate information for the relevant period was on September 1, 2010. On September 24, 2010, the Company was told that the Company was required to present reasonable details regarding the misleading and inaccurate information, but completely ignored the Commission's letter, on behalf of the Company. No notification or response was received from. The company prayed that the Commission should be relaxed in this regard because the delay in the delivery of information was not intentional or in keeping with the breach of the Code of Conduct and Brokers Rules, when its request was properly considered. The company, the commission, did not exercise the power to suspend the register but in the exercise of its powers, the company was fined Rs 25,000 under the Regulation of Registration of Brokers and Agents of the Company so that in future the Act and Ensure compliance with instructions. To avoid any penal action under the law
Related judgments — Securities and Exchange Commission of Pakistan, 2011
