AXIS GLOBAL LIMITED, BROKER KARACHI STOCK EXCHANGE LIMITED versus
Sections 6, 16 and 22 of the Central Depositories Act (XIX of 1997), Sections 16, 24 and 28 of the Stock Exchange Members (Inspection of Books and Records) Rules, 2001, RR 3 and 4 of Company Securities Misuse and Delay of Charge The Securities and Exchange Commission of Pakistan ordered a book inspection and after inspecting the records required to maintain the company inspection team, revealed that the company was misrepresenting the securities of its clients, and the company Involves in late imposition of charges for paying clients to Net Capital Balance (NCB) Irregularities were also observed, and it was found that the NCB Securities and Exchange Rules was not in line with the third schedule of 1971 Third 1971, in many cases, the Company did not issue shares without the proper authorization of the / sub account holders. Who was pledged and has been charged late in violation of the Securities and Exchange Ordinance, 1969 Ordinance, Section 16 of the RL. This and the regulation was a serious matter, in view of disciplinary violations, the company had to collect Rs 100,000 under section 22 of the Securities and Exchange Ordinance, 1969 and another 300,000 under section 28 of the Central Depositories Act 1997. Was instructed. The commission was instructed to transfer the shares of the investors to the respective sub-account as soon as possible through the penalty company, and was further directed to comply with the ordinance, rules and commission directives in the future. Make sure
Related judgments — Securities and Exchange Commission of Pakistan, 2013
