The Securities and Exchange Commission of Pakistan (SECP) has initiated supervisory actions against unlisted licenced companies that have failed to publicly disclose their annual financial statements, despite a significant 88% compliance rate with a recent directive.
According to SECP report today, the enforcement measures follow a mandate issued by the SECP in January of the previous year, which compelled all unlisted licenced organisations to upload and disseminate their audited financial statements through the Pakistan Stock Exchange’s (PSX) Financial Portal for Unlisted Companies (FPUC).
This regulatory requirement was introduced to enhance transparency, elevate disclosure standards, and bolster governance within entities operating in areas of significant public interest. The public availability of these financial records allows investors and stakeholders to more effectively evaluate the performance and financial stability of the firms.
As part of its supervisory duties, the SECP conducted a comprehensive, sector-wide compliance drive that targeted brokers, insurance companies, Non-Banking Finance Companies (NBFCs), Modarabas, and other licenced entities. This initiative successfully raised compliance from negligible levels to the current figure.
The financial statements of compliant companies are now accessible to the public and interested parties through the PSX portal.
The SECP affirmed that it will continue to pursue a firm regulatory approach, actively promoting accountability, good governance, and investor protection across Pakistan’s financial services sector.