{"id":246972,"date":"2022-03-01T09:28:23","date_gmt":"2022-03-01T04:28:23","guid":{"rendered":"https:\/\/leadpakistan.com.pk\/news\/?p=246972"},"modified":"2022-03-01T09:28:23","modified_gmt":"2022-03-01T04:28:23","slug":"secp-specifies-eligibility-criteria-for-trustee-registration","status":"publish","type":"post","link":"https:\/\/leadpakistan.com.pk\/news\/secp-specifies-eligibility-criteria-for-trustee-registration\/","title":{"rendered":"SECP specifies eligibility criteria for trustee registration"},"content":{"rendered":"<p> ISLAMABAD<br \/>\nThe Securities and Exchange Commission of Pakistan (SECP) has specified the eligibility criteria and enabling framework to register as a trustee of open-end or closed-end schemes.<br \/>\nThe SECP has taken the step while pursuing its agenda of developing vibrant and competitive capital markets, said a press release issued on Monday.<br \/>\nUnder the framework, notified through Circular No 4 of 2022, a public limited company having a principal business of providing trustee services to Collective Investment Schemes (CIS), Pension Funds, REIT Schemes and Private Funds, is eligible for registration. The minimum equity requirement for eligibility is set at Rs100 million or 0.10% of the net assets under its trusteeship, whichever is higher.<br \/>\nThe trustee registration will strengthen the fund management sector, bring more transparency, increase digitalization and promote a healthy corporate culture.<br \/>\nOne of the main requirements of eligibility for registration as a trustee is to have at least one financial institution or an insurer with net equity of at least Rs1 billion, as a major shareholder. It is further specified that the directors, chief executive and major shareholders shall comply with Fit and Proper Criteria and shall be subject to prior approval of the SECP. Listed companies\u2019 code of corporate governance will also be applicable to the trustee company, said the statement. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>ISLAMABAD The Securities and Exchange Commission of Pakistan (SECP) has specified the eligibility criteria and enabling framework to register as a trustee of open-end or closed-end schemes. The SECP has taken the step while pursuing its agenda of developing vibrant and competitive capital markets, said a press release issued on Monday. Under the framework, notified [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-246972","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SECP specifies eligibility criteria for trustee registration<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadpakistan.com.pk\/news\/secp-specifies-eligibility-criteria-for-trustee-registration\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SECP specifies eligibility criteria for trustee registration\" \/>\n<meta property=\"og:description\" content=\"ISLAMABAD The Securities and Exchange Commission of Pakistan (SECP) has specified the eligibility criteria and enabling framework to register as a trustee of open-end or closed-end schemes. The SECP has taken the step while pursuing its agenda of developing vibrant and competitive capital markets, said a press release issued on Monday. 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