SECP Seeks Public Input on Corporate Governance and Postal Ballot Regulatory Reforms

Islamabad: The Securities and Exchange Commission of Pakistan (SECP) has announced a call for public comments on its proposed amendments to the Listed Companies (Code of Corporate Governance) Regulations, 2019, and the Companies (Postal Ballot) Regulations, 2018. The changes aim to enhance shareholder rights and improve transparency in corporate governance practices.

According to Securities and Exchange Commission of Pakistan, the proposed amendments include setting a shareholding limit for independent directors, removing the category-wise voting scheme, and expanding the role of scrutinizers to ensure greater transparency in the nomination and election processes of directors. These reforms are part of a broader effort by the SECP, which earlier established a committee of stakeholders and experts to recommend improvements in how shareholder meetings are conducted. The committee’s findings have been made available for public review on the SECP’s website, alongside a detailed comparison of the existing and proposed regulations to facilitate better understanding and feedback.

The SECP has expressed its commitment to adopting measures that strengthen the rights of shareholders, bolster corporate governance, and maintain market integrity. Stakeholders, especially listed companies, are encouraged to submit their feedback on the proposed changes through the SECP’s designated email or via the links provided on its website.

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