The Securities and Exchange Commission of Pakistan (SECP) has rejected allegations regarding employee salary and income management made by the Auditor General of Pakistan (AGP) in its integrated audit report for 2024-2025. The audit report suggests that the SECP inappropriately adjusted employee salaries and benefits and failed to deposit funds into the Federal Consolidated Fund. The Commission maintains that its financial decisions are in accordance with the SECP Act, 1997 and have proper authorization.

The SECP has criticized media bias, emphasizing that news outlets published the AGP’s concerns but ignored the Commission’s response. The SECP also refuted reports that it was summoned to a Departmental Accounts Committee (DAC) meeting and subsequently ignored it, stating it received no such summons.

The initial audit report will be reviewed by the DAC, which will hear arguments from both the AGP and SECP before making a decision. The SECP noted that the PAC ruled in its favor in a similar matter in July 2025. The Commission expressed regret that this matter resurfaced without consultation with the Ministry of Finance or Law.

Operating under the SECP Act, 1997, the SECP is an independent institution with administrative, financial, and operational autonomy, aligned with international standards for capital market regulators set by organizations such as IOSCO.

The SECP Policy Board, comprising government officials and private sector members, provides final approval for the budget and related decisions, ensuring comprehensive oversight of the Commission’s activities.

To attract and retain skilled professionals, the SECP periodically reviews compensation, benchmarking it against market rates and obtaining Policy Board approval.