In order to facilitate companies and ensure health and safety of all concerned, the Securities and Exchange Commission of Pakistan (SECP) has decided to conduct Appellate Bench hearings through video conferencing where parties i.e. Appellant and Respondent can make their hearing submissions from their respective safe locations.
The Appellate Bench of the SECP is a quasi-judicial forum, which is legally mandated to hear appeals filed against the orders passed either by a Commissioner or any other officer authorized by the SECP.
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 Appellate Bench related hearings.
To this effect, the commission has approved major adjustments in standard operating procedures and internal guidelines. Hearing Notices will now be served to the parties through emails. This will be in addition to traditional postal dispatches on the registered address. These facilitative changes will create ease across all regulated sectors of SECP.
During this period of collective national emergency, SECP has ensured continuity of operations and social media and electronic means have become the preferred medium of communication at SECP.