SALMAN MAJEED SECURITIES (S. M. C. PRIVATE) LIMITED versus
The 8th, 12th and 3rd Schedule movement of sub-account holders 'securities from the central account to the home account moved the company from the central account to the CDC sub-account holders' securities, which were not part of the company's proprietary business. ? The Securities and Exchange Commission instructed the company to respond in a letter with the required information regarding the movement of securities related to the securities movement from February, 2010 to April 2010, but the company Provided information for an unrelated period. From September 1 to September 24, 2010, the information provided by the Company was also deemed inaccurate to the statement made in its letter. The company violated Article 1X2 of the Code of Conduct in registering brokers and agents by declaring the information provided as misleading and inaccurate. Rules, 2001, wherein R 8 (iv), in addition, provide information to the Commission that w as fraudulent, violations of brokers and agents' registration rules, Code of Conduct of 2001 and registration of brokers and agents. Contrary to the prohibition imposed in R8 (viii) of the 2001 Act, R8 (a) was attracted to the penal provisions. A) and (b) the above rules, which gave the commission the power to suspend the broker's registration or impose a penal company, however, after praying for a softer attitude, the commission sought to suspend the company's registration. Options not used. Under R8 (b) of the Brokers and Agents Registration Rules 2001, the company was fined Rs 25,000 for exercising its powers and added that the company's laws and guidelines for avoiding any punishment
Related judgments — Securities and Exchange Commission of Pakistan, 2011
