CLICK TRADE LIMITED, MEMBER KARACHI STOCK EXCHANGE versus
Unauthorized pledge / transfer of investor securities by the Company, Impact Securities and Exchange Commission to allegedly transfer shares and non-payment of funds to the complainant CDA account / exchange commission. Related complaints have been received. The company had acknowledged the investors' complaints / claims filed against it under its letter of unauthorized pledge / transfer of securities. Not only did the company misuse its clients' securities through unauthorized commitments / conversions, but it failed to resolve outstanding investor complaints / claims, even after more than eight months. Such an act is a clear violation of the R12 Regulation of Brokers and Agents Registration Rule 2001, which made it mandatory under the Rules for Registration Certificate. In order to strictly adhere to the Code of Conduct 2001 and to maintain high standards of integrity, urgency and fairness in the conduit, the aforementioned Rules 4 and 12 of the Brokers and Agents Registration Rule 4 and 12 of the Regulations 2001, from time to time. Compliance with various guidelines for violation of the Code was clearly neglected and was unsuccessful. And not following the Commission's instructions was a serious matter, and in the public interest to safeguard investors and maintain the integrity of the capital market, the use of the powers granted by R8 of the Brokers and Agents Regulation 2001 ? In the light of investors' claims, the Commission suspends the company's registration until the claims against the company are confirmed.
Related judgments — Securities and Exchange Commission of Pakistan, 2009
