Akif Saeed appointed as new SECP chairman

Akif Saeed appointed as new SECP chairman

Akif Saeed appointed as new SECP chairman

Akif Saeed as the chairman of the Securities and Exchange Commission of Pakistan

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ISLAMABAD: The federal government on Friday issued a notification, appointing Akif Saeed as the chairman of the Securities and Exchange Commission of Pakistan (SECP) with immediate effect.

Saeed was appointed as the SECP chairman on December 13 by the incumbent government.

Saeed had earlier served as the SECP commissioner from December 2014 to December 2017. He joined the commission in 2004 and served as head of various divisions.

He has extensive regulatory, operational and business knowledge of various infrastructure entities in the capital markets.

During his tenure at the SECP, he has contributed significantly towards instituting various legal and regulatory reforms for enhanced corporate governance, transparency, investors’ education, investors’ protection and risk management.

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He was instrumental in introducing legal framework for Real Estate Investment Trusts (REITs) and private equity, in addition to introducing private pension through implementation of voluntary pension rules and issuance of licence to four pension fund managers in 2007.

He played a vital role in achieving compliance with the International Organisation of Securities Commissions (IOSCO) benchmarks principles of the securities market.

Saeed also led the team that worked on overhauling the securities laws in Pakistan and drafted the new Securities Act 2015 and Futures Act 2016.

He has also worked in various private sector entities, including the American Express Bank and as a consultant for the Asian Development Bank. He is a Chevening alumnus and completed his Master’s in Business Administration from the University of Edinburgh and also holds a Master’s degree in economics from the Government College Lahore.

Earlier during the day, Federal Minister for Finance and Revenue Ishaq Dar held a meeting with the SECP management at the Finance Division.

The minister extended his felicitations to the newly-appointed SECP commissioners. Dar also appreciated the SECP’s work as a contributor to the financial and economic development in Pakistan by taking a number of regulatory measures in restoring and maintaining the confidence of domestic, as well as foreign investors.

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