Karachi: Securities brokers in Pakistan are reminded to submit their applications for the renewal of licenses under the Securities Brokers (Licensing and Operations) Regulations, 2016, to the Securities and Exchange Commission of Pakistan (SECP) by November 3, 2025. This renewal process covers licenses valid until December 31, 2025, and ensures compliance for the forthcoming calendar year, starting January 1, 2026.
The SECP has outlined a detailed set of requirements for securities brokers to fulfill in their renewal applications. These include the submission of a completed application form, an undertaking of compliance with all regulatory requirements, and the original bank receipt for the regulatory fee. Additionally, brokers must provide certified copies of Forms A, 9, and 19, evidence of the latest audited financial statements, valid certifications from the Institute of Financial Markets of Pakistan (IFMP), and proof of filing the latest periodic returns.
According to information available from the Pakistan Stock Exchange (PSX), the deadline for submitting these documents is designed to allow sufficient time for review before the SECP’s final approval. This measure aims to streamline the process and ensure that all brokers meet the regulatory standards set forth under the Securities Act, 2015, and the Futures Market Act, 2016.
The renewal fees are specified under Schedule I of the regulations, with a fee of PKR 50,000 for Online Only Brokers and PKR 25,000 for license renewals. Brokers must ensure they are fully compliant with the PSX regulatory framework and meet the financial resource requirements outlined in the regulations. Furthermore, they must declare that there are no pending complaints, investigations, or litigation against them.
The designated market category for this renewal process is the securities brokerage industry. Compliance with the SECP’s regulations is crucial for maintaining market integrity and ensuring that brokers continue to operate within the legal framework established to protect investors and uphold the financial system’s stability.