SECP revokes licenses of 3 brokers, trading terminals affected

The Securities and Exchange Commission of Pakistan (SECP) has canceled the licenses of three brokers, resulting in the deactivation or suspension of their trading terminals.

According to a notice issued by the PSX today, the first broker whose license is canceled is Xpert Securities Limited. The reason for the cancellation is that the entity applied for the voluntary surrender of the TRE Certificate and did not apply for the renewal of the broker license.

Accordingly, the trading terminals were deactivated due to voluntary surrender.

Secondly, the trading terminals of CAMCO (Private) Limited have been suspended due to regulatory breaches and the firm did not apply for the renewal of the broker license.

Lastly, Enrichers Securities (Private) Limited has also been suspended as the entity breached regulations and did not apply for the renewal of the broker license.