Islamabad, Jan 3: The Securities and Exchange Commission of Pakistan (SECP) has retracted its earlier decision to cancel the licenses of four brokerage firms.
Key Developments:
- Licenses Restored:
- The affected brokerages included First National Equities Limited (FNEL), First Choice Securities Limited, Surmawala Securities (Private) Limited, and Falki Capital (Private) Limited.
- SECP had initially cancelled these licenses on January 1, 2025.
- FNEL Statement:
- FNEL, in its filing to the Pakistan Stock Exchange (PSX), confirmed the withdrawal of the cancellation notice.
- The company expressed optimism about the swift approval of its application for category conversion under existing regulations.
This move underscores SECP’s commitment to ensuring regulatory compliance while supporting the operational stability of market participants.
