Karachi: The Securities and Exchange Commission of Pakistan (SECP) has approved amendments to the Pakistan Stock Exchange (PSX) regulations, introducing new requirements for Corporate Briefing Sessions (CBS) by listed companies. The changes, effective from December 31, 2025, aim to enhance transparency and corporate governance.
According to information available from the Pakistan Stock Exchange (PSX), the newly inserted Clause 5.7A mandates every listed company to conduct at least one CBS within 30 days following their Annual General Meeting or Annual Review Meeting. These sessions, based on annual financial statements, can be held physically or electronically, and participation through electronic means must be available if the session is conducted physically.
Listed companies are required to disclose the total number of CBS held during a financial year in their annual reports. Notices for CBS must be published at least three days in advance on the exchange and the company’s corporate website, providing essential details such as the period of financial statements, date, time, venue, and online connectivity links.
The attendance of both the CEO and CFO is mandatory for these sessions, ensuring senior management’s involvement in addressing stakeholders. Presentations during CBS must be published a day in advance and include key financial metrics, revenue drivers, business risks, and geographical disclosures as per IFRS 8.
Additionally, companies must disseminate video recordings of the sessions within two working days and retain these, along with written transcripts, for three years. The PSX prohibits the disclosure of misleading information and requires that all CBS be moderated by an investor relations manager or relevant executive.
Failure to comply with these regulations will result in penalties, with a base fine of PKR 100,000 and an additional PKR 2,000 for each day of non-compliance. The introduction of these measures underscores the commitment to improving corporate communication and governance standards on the exchange.