ISLAMABAD : Over the last couple of years, the Securities and Exchange Commission of Pakistan (SECP) has successfully implemented legal and administrative reforms to strengthen its regulatory ambit.

According to a statement issued by SECP, the reforms undertaken during last two years were aimed at developing capital markets, promoting corporatisation and protecting the interests of investors. With a strengthened regulatory framework, the SECP launched an aggressive campaign against perpetrators of manipulation schemes, insider traders and violators of regulatory principles. In a vigilant supervision and surveillance environment, enforcement actions were taken against the lawbreakers and a number of criminal complaints were filed in the court of law.

The aggressive action has turned many of them against SECP. Such desperate elements have started a malicious campaign against the commission and its officers by using multiple communication channels such as email, social media and electronic and print media. The objective of this baseless propaganda drive is to tarnish the image of this apex regulator and to slow down its merciless drive against these fraudulent and criminal elements.

The SECP would like to reiterate its unflinching resolve and commitment to continue its enforcement drive vigorously and would not succumb to the pressure of such elements and the enforcement drive of the SECP will continue unabated without any let-up.