The Securities and Exchange Commission of Pakistan (SECP) took notice of HASCOL’s reported accounts for the period ending June 30, 2019, during October 2019.
In this regard, the SECP has diligently followed its requisite internal protocols in compliance with its mandated role and responsibility. However, being the apex corporate regulator of the country, SECP has to conclude its proceedings after following due process as envisaged under the law.
The SECP does not comment on its regulatory actions until they are finalized and orders are issued, and at that stage, they are published on its website without any exception. However, recently some misreporting in the print media has been undertaken that is devoid of facts and published without seeking SECP’s version.
The SECP has been and continues to remain vigilant and proactive in swiftly dealing with any regulatory violations that fall within its ambit.
SECP greatly respects and values its ongoing relationship with the media, which almost invariably reports SECP’s activities in a measured, responsible, and fair manner. However, it expects that reporting on matters currently under consideration of SECP should not be based on conjecture or incorrect hearsay.