PEARL SECURITIES LIMITED, TREC HOLDER/ BROKER OF KARACHI STOCK EXCHANGE LIMITED versus
Section 22 Brokers and Agents Registration Rules, 2001, R 12 and Code of Conduct unfair trading practices such as the Wash Trading Client of Company bought and sold shares through a brokerage company, thereby buying and selling orders together. Matched and it didn't. As a result of any change in ownership of the shares, the transaction came into the meaning and scope of the term wash trade because it created a false and misleading impression in the market and it was in violation of the regulatory framework as The wash was harmful to the development of trades. Market; and loss of market integrity, said trades have executed that the company has failed to maintain high standards of integrity. And his business failed to exercise the company's proper care, expertise and effectiveness, it violated the rules and regulations, it was a serious matter, which also led to the suspension or cancellation. Can Registration of the company by the Commission In view of the matter, the company was fined Rs. 100,000 (only one hundred thousand rupees) with strong advice on taking urgent action, and proper testing in its management system. Will be investigated. Ban orders that may result in wash trades
Related judgments — Securities and Exchange Commission of Pakistan, 2014
