Section 6 and 22 Brokers and Agents Registration Rules, 2001, R8 Securities and Exchange Rules, 1971, R8 and Third Schedule Stock Exchange Member (Inspection Books and Records) 2001, Rr 3, 4 and 7 in Calculation In the Net Capital Balance (NCB) report presented by the Regulatory Investigation Team, certain irregularities were disclosed by the Company in the calculation of Net Capital Balance. The inspection report further highlights that Failed to keep client assets separate and provide required information. He was involved in accusing his clients of late payment. The Company failed to fulfill its obligations by recording the securities belonging to the home account in the books of the Account, which was a breach of the Securities Exchange Rules, 1971. The company said the net capital balance was not prepared according to the rules. The company accused the clients of delaying payment in violation of the Securities and Exchange Ordinance, 1969. The company did not retain the client's assets separately, in violation of the general rules of the Karachi Stock Exchange. And failing to provide the Commission with information that violates the Brokers and Agents Registration Rules, 2001 Brokers should comply with the letters and rules set by the Commission and the rules, rules and procedures of the Spiritual Broker Company. Must be considered professional with high integrity and should perform it in a fair, fair and unbiased manner. Summary of rules and regulations governing the exercise of powers under Section 22 of the Securities and Exchange Ordinance, 1969
Related judgments — Securities and Exchange Commission of Pakistan, 2015
