Karachi: Securities brokers across Pakistan have been alerted to renew their licenses in accordance with Regulation No. 9 of the Securities Brokers (Licensing and Operations) Regulations, 2016, as their current licenses are set to expire on December 31, 2026. The Securities and Exchange Commission of Pakistan (SECP) mandates this renewal process to ensure compliance and facilitate uninterrupted operations within the securities market.
The SECP has specified that brokers must submit renewal applications for the upcoming calendar year, spanning from January 1, 2027, to December 31, 2027. These applications are to be processed through the Pakistan Stock Exchange (PSX), and the necessary documents must be submitted by November 3, 2026. This deadline ensures that the SECP can review the applications in a timely manner and grant renewals within the specified timeline.
According to information available from the Pakistan Stock Exchange (PSX), the required documentation includes a completed application form for license renewal, an undertaking of compliance with all regulatory requirements, the original receipt of the bank fee deposit, certified copies of Forms A, 9, and 19, and evidence of the latest audited financial statements submission. Additionally, brokers must provide proof of valid Certification of IFMP and evidence of filing the latest periodic returns.
The fee schedule for the renewal process is outlined under Schedule I of the regulations. The fee for renewing a standard securities broker license is set at PKR 50,000, while an online-only broker license renewal requires a fee of PKR 25,000. For those seeking a new license, the fees are set at PKR 100,000 and PKR 50,000 for standard and online-only brokers, respectively.
Securities brokers are advised to ensure that all documents are submitted accurately and promptly to avoid any disruptions in their licensure status as the year-end approaches. The SECP emphasizes the importance of adherence to these regulations to maintain market integrity and transparency.