Book recommendation: Everybody's Guide To Money Matters: With A Description Of The Various Investments Chiefly Dealt In On The Stock Exchange, And The Mode Of Dealing Therein ...
By Yasser Latif Hamdani
The question before us is whether the SECP could remove a member of the exchange in powers given to it. The answer to this question is yes.
7(1)d of the Securities and Exchange Ordinance 1969 (“SEO”) reads:
“Where the Commission is of opinion that an Exchange or any member, director or officer hof the Exchange has contravened any provision, or has otherwise neglected or failed to comply with any requirement, of this Ordinance, or of any regulation or direction made or given thereunder, the Commission if it considers it necessary for the protection of investors or to ensure dealings or fair administration of the Exchange so to do by order in writing, -
….
