Karachi: The National Clearing Company of Pakistan Limited (NCCPL) has issued a final reminder to Broker Clearing Members (BCMs) and Professional Clearing Members (PCMs) to submit their audited or reviewed financial statements containing Liquid Capital (LC) by October 31, 2025, as per the guidelines set in Regulation 6(3) of the Securities Brokers (Licensing & Operation) Regulations, 2016. This requirement pertains to the financial year ending on June 30, 2025.

The directive, which follows NCCPL Circulars dated August 25, 2025, and September 5, 2025, emphasizes the necessity for BCMs and PCMs to comply with these submission deadlines to avoid enforcement actions. According to the NCCPL, exposure will be determined based on the lower of the audited and unaudited Liquid Capital submitted.

Failure to adhere to the deadline could result in the restriction of trading facilities for non-compliant securities brokers. They would then be limited to closing out open positions under controlled conditions. This measure is in accordance with Regulation 6(6) of the Securities Brokers (Licensing & Operation) Regulations, 2016.

According to information available from the Pakistan Stock Exchange (PSX), supplementary to the annual submissions, Clearing Members are also required to continue submitting monthly unaudited Liquid Capital statements to both the securities exchange and clearing house. These submissions must be made in a timely manner, and adjustments within NCCPL systems will occur within two working days following the submission.

The NCCPL reminded all relevant parties that submissions will only be accepted during standard business hours, concluding at 5:30 PM. This structured timeline aims to ensure orderly processing and compliance within the designated market category.