The Securities and Exchange Commission of Pakistan has amended the Listed Companies (Code of Corporate Governance) Regulations, 2019 and the Companies (Postal Ballot) Regulations, 2018 to strengthen corporate governance and shareholder protections for listed companies. The changes remove the category-wise voting scheme to support minority shareholders’ representation on boards, expand the scrutinizer’s role to increase transparency in accepting or rejecting nominations for director elections and proxies, introduce mandatory attendance of directors at general meetings, and encourage independent external evaluation of board performance. The reforms follow work by an SECP committee of market experts and stakeholders, alongside public consultations on both the committee’s report and the proposed amendments, which have been published on the SECP website.
Securites & Exchange Commission of Pakistan 2025-03-28
Securities and Exchange Commission of Pakistan amends listed company governance and postal ballot regulations to bolster minority shareholder representation and board accountability
The Securities and Exchange Commission of Pakistan has amended the Listed Companies (Code of Corporate Governance) Regulations, 2019 and the Companies (Postal Ballot) Regulations, 2018 to enhance corporate governance and shareholder protections. Key changes include eliminating category-wise voting to support minority board representation, expanding the scrutinizer's role for transparency, mandating director attendance at general meetings, and promoting independent board evaluations. These reforms result from SECP's collaboration with market experts and public consultations.