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MRA SECURITIES LIMITED vs COMMISSIONER (SMD), SECP, ISLAMABAD S — 2021 CLD 187 SECURITIES-AND-EXCHANGE-COMMISSION-OF-PAKISTAN

Case information

Citation
2021 CLD 187 SECURITIES-AND-EXCHANGE-COMMISSION-OF-PAKISTAN
Year
2021
Reporter
CLD
Parties
MRA SECURITIES LIMITED vs COMMISSIONER (SMD), SECP, ISLAMABAD S
Provisions referred to
S. 40

Fields are extracted from the reported citation and judgment text. Where a detail is not stated in the record, it is not shown.

Judgment text as reported

MRA SECURITIES LIMITED VS COMMISSIONER (SMD), SECP, ISLAMABAD S. 40a---Penalty for violations of Rules, Regulations, Directives and Notifications---Non-mentioning of specific provisions while providing opportunity of hearing---Effect---appellant had violated the requirements of Reglns. 3, 4, 6, 7 & 13 of the Securities and Exchange Commission of Pakistan (anti-Money Laundering and Counter Financing of Terrorism) Regulations, 2018 though respondent had not specifically mentioned the aforesaid provisions in the impugned order---Validity---Held; violated provisions should have been mentioned in the impugned order, however, non-mentioning of specific provisions did not vitiate the proceedings when, violations were duly mentioned and established.

Other judgments reported in 2021 CLD

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