ISLAMABAD: The Ministry of Finance on Tuesday appointed two new commissioners in the Securities and Exchange Commission of Pakistan for a period of three years.

The new appointees include Shaukat Hussain, SECP’s Executive Director and the Head of Corporate Compliance Department. Earlier during his career in the SECP, he had been head of Companies Registration Office (CRO) for Karachi and Lahore offices.

The other commissioner appointed by the government is Shauzab Ali, who belongs to the banking sector and has served in several banks including the Asian Development Bank (ADB).

Based on his experience he is likely to be made the commissioner of the Specialised Companies Division, which includes regulating the Non-Banking Finance Companies (NBFC).

Up till now there were only two commissioners in the SECP — Zafar Abdullah, who is also the acting chairman — and Tahir Mahmood.

Published in Dawn, March 28th, 2018