FAIRTRADE CAPITAL SECURITIES (PVT.) LIMITED versus
Section 6 and 22 Brokers and Agents Registration Rules, 2001, R8 Stock Exchange Members (Inspection of Books and Records) Rules, 2001, Rr 3, 4 and 7, Capital Balance (NCB) Inspection Team Calculation Irregularities in the book, which have been formally constituted, were identified in the report in the calculation of broker company Net Capital Balance (NCB) on the third schedule of the Net Capital Certificate Securities and Exchange Rules. In 1971, the company failed to maintain a separate identity of its client's assets and the KYC and CDD policy were timely , So the company was involved in delaying payment charges. The separation of client assets was of extraordinary importance to protect the interests of the clients, the company was expected to be the host of the clients' assets. Under the letter and spirit, the applicable regulatory framework company was fined Rs 25,000 with further instructions. That the Company adhere to the rules and guidelines issued with the letter and spirit. Ensure the separation of client assets, maintain a separate bank account for client funds and use this account for client fund purposes only.
Related judgments — Securities and Exchange Commission of Pakistan, 2014
