Heads registered as agents with Securities in Sections 5A, 20 and 22, Agents and Traders (Eligibility Standards) Rules, 2001, R2A Securities and Exchange Commission of Pakistan Act (XLI of 1997), Section 33 Companies Failure to obtain and the Exchange Commission of Pakistan on appeal of the Appellant / Company fined its Branch Offices as the agent of the Securities and Exchange Commission of Pakistan under section 5A of the Securities and Exchange Ordinance, 1969. Offices were running. And the heads of the branch were raised to register as agents by the due date. The appellant further requested that the Karachi Stock Exchange, being a frontline regulator, allow the branches to operate and provide internal trading services without registration and in such cases the appellant has acted. After collecting the funds through its various branches without appellant with good faith and registering the heads of its branches with the Commission, the Securities and Exchange Ordinance, 1969, was violated and the Karachi Stock by Appellant. The letter of exchange rules and regulations seeking permission from the Exchange was not provided, otherwise any instruction or advice given by the Karachi Stock Exchange that conflicts with the commission's rules was not acceptable and no appellant's ground for defense. Could not, however, not register the heads of all the branches Which had been started by the appellant who fails to get the heads of the appellant. Registered branch up, despite clear direction from the Commission
Related judgments — Securities and Exchange Commission of Pakistan, 2010
