Latest news with #AppellateBench
Business Recorder
05-07-2025
- Business
- Business Recorder
FY 2024–2025: SECP Appellate Bench disposes of 124 appeals
ISLAMABAD: The Appellate Bench of the Securities and Exchange Commission of Pakistan (SECP), in interest of timely justice and regulatory accountability has disposed 124 appeals during the financial year 2024–2025. Of the appeals decided, 22 cases pertained to the Insurance Ordinance, 2000, while 15 were related to the Securities Act, 2015. Additionally, 34 appeals involved provisions of the Companies Ordinance, 1984, and the Companies Act, 2017, and 05 appeals addressed violations of the Non-Banking Finance Companies Regulations, 2008. The remaining 48 appeals concerned breaches of the SECP's Anti-Money Laundering and Countering Financing of Terrorism Regulations, 2018 and 2020. Out of the 124 appeals filed against orders issued by SECP's adjudicating authorities, the Appellate Bench upheld 113 decisions, while 11 orders were set aside. This outcome underscores the Bench's efficiency, impartiality, and its role as an effective appellate forum for redressal of grievances and dispute resolution. All decisions rendered by the Appellate Bench are publicly accessible on the SECP's official website, reflecting the Commission's ongoing commitment to transparency and good governance. Copyright Business Recorder, 2025
Business Recorder
23-04-2025
- Business
- Business Recorder
Revitalised Appellate Bench Registry: SECP enhances quasi-judicial operations
ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has enhanced its quasi-judicial operations through a revitalised and more efficient Appellate Bench Registry, reflecting from new appellate bench orders of the SECP. Details issued by the SECP on Tuesday revealed that recognising the critical role of the Appellate Bench as the Commission's final forum for adjudication, Chairman Akif Saeed placed strategic emphasis on institutional reform and judicial efficacy. This focus resulted in the strengthening of the Registry by deploying a dedicated and highly skilled team, along with streamlined internal processes designed to enhance operational performance. These institutional enhancements facilitated the accelerated resolution of long-pending appeals and the successful clearance of a substantial backlog of cases spanning from 2012 to 2020. This progress was achieved while upholding highest standards of legal reasoning, procedural fairness, and reinforcing the jurisprudential depth of the Appellate Bench's decisions. The recent rulings have not only articulated authoritative and well-founded interpretations of key statutory provisions most notably under the Companies Act 2017 but are also poised to serve as essential reference sources for legal practitioners, market participants, and regulatory authorities, thereby playing a pivotal role in shaping and advancing corporate legal jurisprudence in Pakistan. Aligned with principles of transparency and accountability, all Appellate Bench orders are publicly accessible on the SECP official website. Company secretaries, legal professionals, compliance officers, and other corporate stakeholders are strongly encouraged to consult these decisions, which serve as essential reference material for the interpretation and application of corporate laws. Complementing these institutional reforms, the Appellate Bench Registry has also successfully developed a comprehensive digital repository of appellate decisions spanning the last two decades. This cutting-edge internal resource offers section-wise, statute-specific, and year-wise classification of all orders from 2006 to 2025. With intuitive one-click access, the repository significantly enhances the ability of internal stakeholders to retrieve and apply authoritative interpretations and rulings issued by successive benches. This initiative not only strengthens institutional memory but also promotes uniformity and consistency in legal reasoning across the Commission. Demonstrating its commitment to continuous improvement, the Registry has also undertaken a comprehensive review of the SECP (Appellate Bench Procedure) Rules, 2003. The proposed amendments, developed in consultation with internal stakeholders, are aimed to align the procedural rules with evolving legal frameworks and practical operational requirements. The revised draft is currently being finalised for submission to the competent forum for approval and notification, representing yet another step toward enhancing the transparency, efficiency, and legal robustness of the Commission's adjudicatory framework. This transformative phase of the Appellate Bench Registry reflects SECP's forward-looking regulatory philosophy focusing on judicial excellence, stakeholder confidence, and institutional credibility. Chairman Akif Saeed's visionary leadership has been instrumental in driving these initiatives, which collectively reinforce investor trust and underscore the Commission's unwavering commitment to transparency, legal integrity, and the prompt and equitable dispensation of justice across all forums. Copyright Business Recorder, 2025
