ISLAMABAD: In pursuance of reforming the non-bank financial services, the Securities and Exchange Commission of Pakistan has issued draft Self-Regulatory Organisa­tions (Registra­tion) Regula­tions 2021 for soliciting public feedback.

These transformational regulations, being introduced for the first time under the SECP Act 1997, are intended to promote establishment of self-regulatory organisations (SROs) to inculcate self-discipline and collective responsibility amongst market players, with a view to enhancing investor confidence.

Internationally, there has been a shift towards self-regulation, typically involving a unique combination of private interests with government oversight as it offers an effective and efficient form of regulation for the complex, dynamic and ever-changing financial services industry.

Published in Dawn, January 15th, 2021