To encourage use of technology, SECP introduces email submission of mandatory accounts

 

KARACHI: The Securities and Exchange Commission of Pakistan (SECP) on Saturday directed listed companies to submit quarterly accounts to the commission electronically via email. 

According to a statement, the SECP has taken the decision in line with steps to facilitate listed companied and to cut the cost of doing business. Earlier, under the 2016 Companies Ordinance companies were allowed to share their quarterly accounts with share holders by releasing the information on their websites for the same reason. 

To submit required information electronically, the SECP has designated [email protected] as the email account for submission of quarterly accounts in both PDF and MS word/excel formats. Similarly, a copy of annual audited financial statements of listed companies are to be sent electronically on the same designated email address both in PDF and MS word/excel formats.

The SECP statement adds that while companied will be bound to submit three hard copies to the commission in line with the ordinance, the new provision aims to encourage the use of technology and electronic means to conduct business and for regulation.