The Securities and Exchange Commission of Pakistan (SECP) has issued a directive requiring all unlisted SECP-licensed companies to publicly disseminate audited financial statements via the Financial Portal for Unlisted Companies (FPUC), a platform developed by the Pakistan Stock Exchange Limited (PSX).
Under this new directive, unlisted SECP-licensed companies must contact PSX within 30 days to gain access to the FPUC and upload their most recent annual audited financial statements.
This requirement will continue until such companies are listed on PSX. Future uploads must adhere to timelines specified by the relevant laws governing the preparation and circulation of audited financial statements.
The FPUC service will be free of charge, both for unlisted companies and the public. Companies only need to sign an agreement with PSX and provide details of authorized representatives for the creation of user IDs. The portal offers a simple and interactive interface for uploading financial statements.
The SECP emphasizes that licensed companies, due to their public interest considerations, must adhere to higher standards than normal businesses.
The SECP’s role extends beyond capital markets, encompassing regulation of the corporate sector, insurance industry, non-banking finance companies, modarabas, private pension schemes, and various other regulated activities, making it the largest regulatory body in Pakistan.
