Karachi: The Pakistan Stock Exchange (PSX) has announced a series of proposed amendments to its regulations, inviting public comments on these changes. This announcement, made on September 5, 2025, aims to bring PSX regulations in line with recent updates to the Companies (Further Issue of Shares) Regulations, 2020, as notified by the Securities and Exchange Commission of Pakistan (SECP).
The proposed amendments focus on various aspects, including a reduction in timelines for the issuance of bonus and right shares by listed companies. The PSX suggests that companies should now issue entitlement letters or right offers to security holders within three working days, a substantial decrease from the previous thirty-day requirement. Similarly, the book closure period for the determination of both right and bonus share entitlements is proposed to be reduced to seven working days. This includes the notice period, with the book closure period not exceeding one day. Moreover, trading of the Letter of Rights is to commence within two working days of credit in the Central Depository System (CDS).
In another proposal, the PSX aims to clarify the registration requirements for employees of securities brokers in the UIN database of the National Clearing Company of Pakistan Limited (NCCPL). This includes not only current employees but also all other representatives of the Securities Brokers. The PSX emphasizes that all regulatory provisions applicable to employees should extend to other representatives as well. To ensure consistency and ease of compliance monitoring, the amendments propose a standardized format for registering employees, including categories such as Chief Executive Officer, Compliance Staff, and Sales Staff.
A third area of proposed change addresses the pattern of shareholding submitted by securities brokers. The PSX proposes that brokers report any changes in their non-executive directors or substantial shareholders within seven working days. This amendment seeks to enhance transparency and ensure that the PSX has up-to-date information for effective compliance monitoring.
According to information available from the Pakistan Stock Exchange (PSX), these proposed amendments are part of a broader effort to streamline operations and improve regulatory compliance. The PSX has attached detailed amendments to the regulations as annexures, inviting stakeholders and the public to submit their comments by September 15, 2025.
The PSX’s call for public input underscores its commitment to stakeholder engagement and regulatory transparency. The designated market category for these changes is the securities market, focusing specifically on listed companies and securities brokers.