The Securities and Exchange Commission of Pakistan (SECP) has published new compliance checklists to guide applicants seeking licences for Real Estate Investment Trust (REIT) Management Companies and for companies licensed under Section 42 of the Companies Act, 2017, alongside new grievance redressal channels across Company Registration Offices. For REIT Management Companies, the checklist consolidates procedural and documentation requirements under the Non-Banking Finance Companies (Establishment and Regulation) Rules, 2003 and the Real Estate Investment Trust Regulations, 2022, including prerequisites for SECP permission to establish a Non-Banking Finance Company (NBFC) and for a licence to provide REIT management services. For Section 42 entities, the checklist sets out licensing and ongoing compliance expectations covering governance, financial reporting and disclosures, with the aim of reducing incomplete submissions and shortening processing times. Stakeholder facilitation has also been widened through a dedicated landline helpline during business hours and a 24/7 online complaints portal, and SECP notes that applicants can follow up if no response is received within five working days of an application or correspondence.
Securites & Exchange Commission of Pakistan 2025-05-05
Securities and Exchange Commission of Pakistan issues licensing compliance checklists for REIT management companies and Section 42 not for profits and expands grievance channels
The Securities and Exchange Commission of Pakistan has issued new compliance checklists for Real Estate Investment Trust Management Companies and Section 42 companies under the Companies Act, 2017. These checklists streamline licensing and compliance by outlining procedural and documentation requirements, aiming to reduce incomplete submissions and processing times. Additionally, SECP has enhanced grievance redressal channels with a dedicated helpline and a 24/7 online complaints portal.