ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has sought public comments on Draft Centralised Organisation Rules 2016 after they have been approved by the federal government, it said in a statement on Monday.

The draft rules, framed under the Securities Act, 2015, have been notified in the ofncial gazette of Pakistan. The deadline for submitting comments is May 15.

Currently, all capital market intermediaries, such as securities brokers, perform registration/account opening process for their clients separately.

The process involves collection of supporting documents from the clients, which not only leads to duplication of efforts and waste of resources, but also results in clients having to repeatedly undergo KYC process each time they open an account with an intermediary.-APP