The Securities and Exchange Commission of Pakistan (SECP) was set up in pursuance of the Securities and Exchange Commission of Pakistan Act, 1997. This Act institutionalized certain policy decisions relating to the constitution and structure, powers, and functions of the SECP, thereby giving it administrative authority and financial independence in carrying out its regulatory and statutory responsibilities.

The SECP became operational in January 1999 and has come a long way since then. It was initially concerned with the regulation of corporate sector and capital market. Over time, its mandate has expanded to include supervision and regulation of insurance companies, non-banking finance companies and private pensions. The SECP has also been entrusted with oversight of various external service providers to the corporate and financial sectors, including chartered accountants, credit rating agencies, corporate secretaries, brokers, surveyors etc. For details visit www.secp.gov.pk .

The Karachi Stock Exchange, the oldest exchange in Pakistan, was established in 1947 and became a registered company limited a few years later. Since then it has experienced a remarkable progress with only 5 companies listed and 90 members on the Exchange in the 1950’s to 652 listed companies and 200 members in 2008. For details visit www.kse.com.pk .

Lahore Stock Exchange was established in October 1970 and is the second largest stock exchange in the country with a market share of around 12-16% in terms of daily traded volumes. Activities of Lahore Stock Exchange have increased (LSE) have increased significantly in all operational areas since its inception. Over the years, LSE has successfully met various challenges and has now emerged, fully geared and positioned to aggressively compete with its fellow Exchanges, contributing towards the growth of Capital Markets in Pakistan. For details visit www.lahorestock.com .

The Islamabad Stock Exchange (ISE) was incorporated as stock exchange guarantee limited Company in 1989 in Islamabad Capital territory of Pakistan with the main object of setting up of a trading and settlement infrastructure, information system, skilled resources, accessibility and a fair and orderly market place that ranks with the best in the world. The purpose for establishment of the stock exchange in Islamabad was to cater to the needs of less developed areas of the northern part of Pakistan. For details visit www.ise.com.pk .

National commodity Exchange limited (NCEL) is the first technology driven, demutualized, on-lined commodity futures exchange in Pakistan. NCEL’s shareholders are Karachi Stock Exchange, Islamabad Stock Exchange, Lahore Stock Exchange, Pak Kuwait Investment Company (Pvt.) limited, and Zarai Taraqiati Bank Ltd and it is regulated by Securities & Exchange Commission of Pakistan. For details www.ncel.com.pk .

Incorporated as a public limited (Unlisted) company in 1993, Central Depository Company of Pakistan Limited (CDC) is the only depository in Pakistan. The Company started its operations in September 1997. CDC is the sole entity handling the electronic (paperless) settlement of transactions carried out at all three stock exchanges of the country. Through efficient functioning of CDC, approximately 99% of the market settlement is in book entry form.

CDC was primarily established to operate the Central Depository System (CDS) for equity, debt and other financial instruments that are traded in the Pakistani Capital Market. However, with the passage of time and development of Pakistan’s Capital Market, it now also provides services that are beyond the traditional depository services. CDS is an electronic book entry system used to record and maintain securities and their transfer’s registration. The system changes the ownership of securities without any physical movement or endorsement of certificates and execution of transfer instruments. For details visit www.cdcpakistan.com .

National Clearing Company of Pakistan Limited (NCCPL) is a significant institution of Pakistan’s capital Market providing clearing and settlement services to all three stock exchanges in the country, providing National Clearing & Settlement System (NCSS) that replaces the earlier separate and individual Clearing Houses of three Stock Exchanges. NCCPL was incorporated in 2001 to manage and operate the National Clearing & Settlement System (NCSS) in a fully automated electronic settlement system, by inducting and handling clearing and settlement of all book-entry securities through NCSS. Thereafter, any security which becomes live in Central Depository on ready status is accordingly inducted into the NCSS. For details www.nccpl.com.pk .

Mutual Funds Association of Pakistan (MUFAP) is the trade body for Pakistan’s multi-billion rupees asset management industry. The money managed by its members is in a wide variety of investment vehicles including stocks, bonds, money market instruments, government securities and bank deposits. Its role is to ensure transparency, high ethical conduct and growth of the mutual fund industry.

MUFAP was formed in 1996 and formally licensed in 2001 as a public limited company (by guarantee) under Section 42 of the Companies Ordinance, 1984 by Ministry of Commerce (MOC) and is thus a quasi legal entity. After the establishment of MUFAP in 1996, private and foreign firms were allowed to float open-ended funds for the general public. For details www.mufap.com.pk .

The CFA Association of Pakistan (CFAAP) promotes ethical and professional standards within the investment industry, encourages professional development through the CFA Programme, and facilitates the open exchange of information and opinions. CFAAP currently has 143 members out of which 87% are CFA Charter holders and 13% are non-charter holders. As one of CFA Institute member societies, the CFAAP connects its members to a global network of investment professionals.  The CFAAP is an association of local investment professionals in Pakistan consisting of portfolio managers, investment advisors, educators and other financial professionals, it promotes:

The Institute of Cost & Management Accountants of Pakistan (ICMAP) was established in 1951 and was granted statutory status under the Cost and Management Accountants Act, 1966 for the regulation of the profession of Cost and Management Accounting.  ICMAP is the sole provider of cost and management accounting education, training and professional certification in Pakistan.  The institute has earned reputation both nationally and internationally for its high standard in imparting education and testing.  The Institute has been meeting an important national human resource need through a steady flow of professional management accountants to occupy leading position in the corporate world. ICMAP has over 4000 members, who hold senior positions in trade, commerce, industry and government in Pakistan and abroad.  The number of active registered students is around 15000, which makes ICMAP one of the largest professional institutions in Pakistan. For details www.icmap.com.pk .