The Securities and Exchange Commission of Pakistan (the Commission) in order to ensure that Insurance Sector should be operated by competent persons with adequate know-how of the insurance business without any involvement in financial crimes and in order to meet the challenges of globalization, to avoid maladministration and to mitigate the money laundering and terrorist financing activities, the Commission hereby directs vide S.R.O. 1525 (I)/2018 dated December 14th, 2018, all the regulated, licensed and associated persons and entities which fall under the domain of insurance sector regulated by the Commission, for submission of undertaking / affidavit as explained under caption “Commentary”.
Detailed Commetnary for SECP SRO 1525
LINK OF DOCUMENT
Notification-Dierctive on aditional fit and proper criteria for sponsors beneficial owners