The Securities and Exchange Commission of Pakistan has published a consultation paper proposing significant amendments to the Private Fund Regulations, 2015 and is inviting comments from the public and relevant stakeholders. The proposals aim to introduce a more structured approach to private fund regulation aligned with global practices. The package would streamline terminology by consolidating private equity and venture capital under a unified “Private Fund” framework, with defined subtypes aligned to international classifications. It also proposes expanding investor eligibility through income-based thresholds and by formally defining Qualified Institutional Buyers (QIBs), alongside governance changes that strengthen trustee and fund manager roles and introduce formal exit strategy frameworks and fund termination protocols. A first stakeholder consultation session has already been held in Islamabad, with additional sessions scheduled in Lahore and Karachi in the coming week. SECP is accepting feedback on the proposals until August 12, 2025.
Securites & Exchange Commission of Pakistan 2025-07-31
Securities and Exchange Commission of Pakistan consults on amendments to the Private Fund Regulations introducing a unified Private Fund framework and revised investor eligibility
The Securities and Exchange Commission of Pakistan has released a consultation paper proposing amendments to the Private Fund Regulations, 2015, aiming to align with global practices. Key changes include consolidating private equity and venture capital under a unified "Private Fund" framework, expanding investor eligibility, and enhancing governance with defined roles for trustees and fund managers. The SECP seeks public and stakeholder feedback on these proposals.