The Securities and Exchange Commission of Pakistan has sought feedback on the proposed amendments to rules for securities lending and borrowing by publishing a note in the official gazette.
The rules are part of the wider Securities Rules 2011, which were officially passed by the federal government in February this year and paved the way for the launch of securities lending and borrowing products by the National Clearing Company of Pakistan as the authorized intermediary, in March 2011.
The Karachi Stock Exchange, in consultation with stakeholders, recently recommended changes to the rules to remove practical difficulties and boost activity in these products.
Following the consultation process, the revised rules will be submitted to the federal government for final approval.
(JDC)