LAHORE - The Lahore Stock Exchange has decided to adopt the Industry Classification Benchmark (ICB), the most widely accepted classification structure in the investment world for reclassification of listed securities. The LSE Board of Directors approved adoption of the ICB in its meeting held on 31st January. The standardization of listed securities in accordance with ICB will facilitate the investors in benchmarking performance of the Pakistani listed sectors with their international counterparts. The ICB, jointly developed and managed by FTSE Group and CME Indexes (previously Dow Jones indexes) has already been implemented by major stock exchanges of the world such as NYSE, Euronext, London Stock Exchange; financial information distributors and media organizations worldwide such as CNBC, The Wall Street Journal, the Financial Times and Dow Jones Newswires. ICB is a detailed and a comprehensive structure for sector and industry analysis, facilitating the comparison of companies across four levels of classification and national boundaries. The system allocates companies to the subsector that most closely represents the nature of its business. The ICB is a four-tier hierarchical industry classification structured as 10 industries which are further divided into 19 supersectors,41 sectors and 114 subsectors. complaint lodged with FIA The Lahore Stock Exchange has said that the LSE has lodged a criminal complaint with FIA against two of its former employees in connection with misappropriation of funds of LSE. The FIA is conducting its preliminary inquiry in the matter and LSE being an applicant is regularly following up with FIA for the registration of the requested FIR. It is further clarified that LSE Governing Board of Directors, after having conducted an internal process, has already decided to not take any internal action against any of the existing LSEs employees of previous management team, including the Company Secretary.