ROYAL SECURITIES (PVT.) LTD. vs COMMISSIONER (SECURITIES MARKET DIVISION), SECP Ss — 2021 CLD 655 SECURITIES-AND-EXCHANGE-COMMISSION-OF-PAKISTAN

Case information

Citation: 2021 CLD 655 SECURITIES-AND-EXCHANGE-COMMISSION-OF-PAKISTAN
Year: 2021
Reporter: CLD
Parties: ROYAL SECURITIES (PVT.) LTD. vs COMMISSIONER (SECURITIES MARKET DIVISION), SECP Ss

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

ROYAL SECURITIES (PVT.) LTD. VS COMMISSIONER (SECURITIES MARKET DIVISION), SECP Ss. 150, 133, 134 & 167---Securities Brokers (Licensing and Operations) Regulations, 2016, Reglns. 16(1)(i) & 16(1)(m)---Disciplinary action in respect of licensed person---Duties and obligations of a securities broker---Market manipulation---Fraudulently inducing trading in securities---Liability of licensed person for the acts of representative---Scope---Appellant Company was imposed upon a penalty of Rs. 5,00,000/- for market manipulation, fraudulently inducing trading in securities and its failure to establish the internal code of practice---Validity---Appellant Company had failed to establish an internal code of practice which resulted in abnormal trading in the shares of a Modraba Company by the sponsors of the Company who made a gain of Rs. 2.4 million and its employees had encouraged investment in the same Modraba Company through their Facebook page---Company's employees, even if not regular, were acting for the Company, therefore, the Company was liable for their actions---Appellate Bench held that the penalty was rightly imposed upon the Company--- Impugned order was upheld.

Other judgments reported in 2021 CLD

2021 CLD 675 QUETTA-HIGH-COURT-BALOCHISTANKHAIR BUKSH RICE MILL VS NATIONAL BANK OF PAKISTAN Ss. 10, 9 & 7---Procedure of Banking Court---Suit for recovery---Application for leave to…
2021 CLD 920 SECURITIES-AND-EXCHANGE-COMMISSION-OF-PAKISTANMSD CAPITAL EQUITIES (PVT.) LIMITED VS The COMMISSIONER (SMD), SECP, ISLAMABAD S. 33---appeal---Condonation of delay---application before wr…
2021 CLD 920 SECURITIES-AND-EXCHANGE-COMMISSION-OF-PAKISTANMSD CAPITAL EQUITIES (PVT.) LIMITED VS The COMMISSIONER (SMD), SECP, ISLAMABAD S. 150---Disciplinary action in respect of licensed person---…
2021 CLD 920 SECURITIES-AND-EXCHANGE-COMMISSION-OF-PAKISTANMSD CAPITAL EQUITIES (PVT.) LIMITED VS The COMMISSIONER (SMD), SECP, ISLAMABAD S. 150---Disciplinary action in respect of licensed person---…
2021 CLD 879 SECURITIES-AND-EXCHANGE-COMMISSION-OF-PAKISTANSWITCH SECURITIES (PVT.) LTD. VS COMMISSIONER (SECURITIES MARKET DIVISION), SECP Ss. 64 & 65---Securities Brokers (Licensing and Operations)…
2021 CLD 855 SECURITIES-AND-EXCHANGE-COMMISSION-OF-PAKISTANAMPLE SECURITIES (PVT.) LTD. VS COMMISSIONER (SECURITIES MARKET DIVISION), SECP S. 150---Securities (Leveraged Markets and Pledging) Rules,…

Back to the case-law library · Search Pakistani case law in Urdu or English