Karachi (TDI): The Pakistan Stock Exchange (PSX) on Monday barred three Securities Brokers from trading as they failed to submit their annual financial statements for the last fiscal year.
As per the details, the PSX deadline for submitting the audited financial statements for the year that ended June 30, 2024, has long passed. However, three securities brokers had not submitted statements despite the lapse of a seven-day notice period.
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The brokers suspended from trading are Fairway Securities (Pvt.) Limited, MSD Capital Equities (Pvt.) Limited and Margalla Financial (Pvt.) Limited.
As per the PSX regulation: “In case of non-compliance with regulation 4.26 of the Regulations, the CRO shall issue a notice of seven (7) days to the Securities Broker for ensuring compliance. Upon failure to comply, the CRO shall immediately restrict the trading facility of such Securities Broker……”
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Resultantly, the PSX, in compliance with the aforementioned law, halted the trading facility of the said brokers with immediate effect until further notice.
