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UBL FUND MANAGEMENT LIMITED vs Ms — 2025 CLD 393 SECURITIES-AND-EXCHANGE-COMMISSION-OF-PAKISTAN

Case information

Citation
2025 CLD 393 SECURITIES-AND-EXCHANGE-COMMISSION-OF-PAKISTAN
Year
2025
Reporter
CLD
Parties
UBL FUND MANAGEMENT LIMITED vs Ms

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

UBL FUND MANAGEMENT LIMITED VS Ms. MOMY KAMAL Reglns. 66a(c)(i), 66a(c)(iv), 66a(d) & 66a(f)---Investing in equity/Mutual Funds---Investment risks---Scope---Securities and Exchange Commission of Pakistan---Powers and responsibilities---appellant (Fund Management Company) was penalized by the Securities and Exchange Commission of Pakistan (Commission) on complaint of lady investor (a housewife who had invested an inherited amount) who redeemed the availed plan owing to loss of principal investment allegedly due to contraventions on the part of the appellant---Plea of the appellant was that any adverse decision (in this appeal ) may undermine the growth of the mutual funds industry in Pakistan---Validity---appellate Bench, while rejecting the appellant's plea, was of the view that while protecting the growth of mutual funds or other regulated activities, the Securities Exchange Commission of Pakistan (the Commission) cannot overlook the violations committed by the regulatees and especially when cases of investor exploitation by the regulatees are evident---as per the requirements of the Securities and Exchange Commission of Pakistan act, 1997, the Commission has the responsibility to protect both: whether it is a regulated entity or an investor---However, appellant had apprised the appellate bench that without admitting the guilt and on compassionate grounds, a compromised deed had been executed between the parties with the amount of loss suffered by Respondent having been paid to her---appellate Bench, while appreciating said compassionate act of compensation, converted the penalty into a warning---appeal, was dispose of accordingly.

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