Committee formed to reform SECP, special tribunals proposed for pending cases
Pakistan
The Prime Minister has set up a committee led by Law Minister Azam Nazeer Tarar to reform the SECP.
ISLAMABAD (Dunya News) - Prime Minister has constituted a high-level committee to introduce reforms in the Securities and Exchange Commission of Pakistan (SECP), with a focus on strengthening its enforcement regime and addressing a growing backlog of cases.
The committee, chaired by Federal Law Minister Azam Nazeer Tarar, held its inaugural meeting where key structural and legal reforms were discussed. Participants emphasised the need to make SECP’s enforcement mechanisms more effective and responsive.
Chairman SECP Dr Kabir Sidhu informed the meeting that over 2,000 cases related to the commission are currently pending in courts. He stressed that urgent reforms are required to ensure swift disposal of these cases and to improve regulatory efficiency.
Among the proposals discussed was the establishment of special tribunals dedicated to SECP-related cases. These tribunals aim to expedite proceedings and reduce the burden on conventional courts.
Dr Sidhu also highlighted the importance of empowering the SECP to recover penalties more effectively. He noted that efforts are already underway to digitise the regulatory framework in order to curb corporate fraud and enhance transparency.
Speaking on the occasion, Azam Nazeer Tarar reaffirmed the government’s commitment to strengthening the SECP through necessary legislation. He directed the commission to present a comprehensive reform plan in and to provide detailed data on all pending cases.
