SECP organizes seminar for business management students
Securities and Exchange Commission of Pakistan (SECP) has organized an investor education and awareness seminar for the students of Business management. The event was organized under SECP campaign 'Jamapunji' at the Institute of Management Sciences, Peshawar, said a statement issued here Monday.
The event was organized in collaboration with the Career Development Centre of IMS and a large number of students attended the event. The students were briefed on the SECP and its role as an apex regulator of the nonbanking financial sector, followed by a discussion on the significance of savings and personal financial planning for the students.
The students were briefed on the significance and impact of savings from an early stage and its benefits in the long run through small but regular investments. The discussion focused on capital markets and mutual funds and their functions as potential investment avenues. Dr. Muhammad Mohsin Khan, Director, IMS, thanked the SECP for taking such an important initiative.
"We are imparting theoretical knowl- edge about finance and other areas, he said. However, it is extremely important that students need to have market-based knowledge," he added. He said the bifurcation of legal and illegal investment avenues are critical for securing them from potential frauds. He also highlighted the need to have more activities of this nature so that the upcoming students can also benefit from the market-based knowledge.
Meanwhile, The Appellate Bench of the Securities and Exchange Commission of Pakistan (SECP) has disposed of 126 appeals during the period from July to December 2015. A statement issued by the Commission here Monday said that the SECP has achieved zero pendency by disposing all appeals during the period under review. It said that the Appellate Bench was reconstituted after the appointment of new Commissioners aimed to expedite the disposal of appeals filed before the Appellate Bench. There were 129 pending appeals before the Appellate Bench for the period July 1 to December 2015, which include a carryover of 113 appeals and 16 new appeals were registered during this period.
A total 126 appeals were fixed for hearing and adjudication during July 2015 to December 2015. All appeals were disposed of after giving opportunity of hearing to the parties concerned, however 13 appeals were dismissed due to non-appearance and non-prosecution of the appellants, who failed to appeal before the Appellate Bench despite several notices. Whereas, only three appeals remain unfixed as there were restraining orders from courts. The Chairman SECP, Zafar Hijazi has appreciated the Appellate Bench's accomplishment of disposing of all the pending appeals and said that the prompt disposal of investor's complaints and appeals is important for investor confidence.
He stated that if a legal redress is available for a party that has suffered some injury, but is not forthcoming in a timely fashion, it is effectively the same as having no redress at all. The Chairman, wished that Appellate Bench shall keep its current performance for administration of justice to ensure the development of the capital market and corporate sector. The SECP's Appellate Bench is mandated to hear appeals against the orders passed either by a Commissioner or any other officer authorized in this behalf. Each bench comprises of two Commissioners.