ISLAMABAD: The Senate on Tuesday unanimously passed the Securities and Exchange Commission of Pakistan (Amendment) Bill of 2013 aimed at regulating the domestic capital market and safeguarding the interest of investors.
The bill was introduced by Finance Minister Saleem Mandviwalla.
According to proponents of the legislation, the purpose of the bill is to amend the Securities and Exchange Commission of Pakistan Act, 1997 with a view to make it more effective in achieving its objectives.
The proposed amendments in the bill will remove certain practical difficulties experienced in protecting the enforcement and other related actions of the commission and to ensure their continuity and effectiveness in connection with regulating the capital market and safeguarding the interest of investors.
The bill has already been passed by the National Assembly. After signatures of the President it will become an Act of Parliament.
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