In order to ensure continuity of its adjudication function, while keeping the health and safety of respondents at the forefront, SECP has decided to conduct hearings through video conferencing where respondents can make their hearing submissions from their respective safe locations, be it their offices or homes.
This decision has been taken in response to disruptions caused by the COVID-19 emergency, however, it will be a permanent facility for participating in SECP adjudication related hearings.
To this effect, the commission has approved major adjustments in standard operating procedures and internal guidelines allowing service of notices and orders through email, use of video conferencing facility for conducting hearings, and extension in timelines for adjudication processes.
Show cause notices and orders will now be served to respondents through emails. This will be in addition to traditional postal dispatches on the registered address.
Moreover, for companies whose offices might be closed or access to relevant records not possible, the commission has decided to relax the submission timeline on request. These facilitative changes will create ease across all regulated sectors of SECP.
During this period of national emergency, SECP has ensured continuity of operations, providing prompt, targeted regulatory relief, and preserving enforcement and investor protection efforts. Social media and electronic means have become the preferred medium of communication at SECP.