SECP files case against senior bank official for insider trading

KARACHI: The Securities and Exchange Commission of Pakistan (SECP) on Wednesday filed a criminal complaint against an employee of a leading bank on charges of insider trading.

According to an SECP press release, Misbahuddin Rizvi worked as the Equity capital markets head at the bank and was responsible for placement of orders for equity investment.

Rizvi used to actively trade in shares and used insider information to earn millions in collusion with his relatives, SECP said.

The authority has filed the case in a sessions court in Karachi.