ISLAMABAD, Dec 31: The Securities and Exchange Commission of Pakistan (SECP) has issued a Consultation Paper on potential areas of improvement in the the overall conduct of listed companies during the Corporate Briefing Session (CBS). This exercise is aimed at ensuring that listed companies hold these sessions in true letter and spirit to provide investors and research analysts an opportunity for timely and accurate dissemination of information relating to financial and operational matters.
As the apex regulator of the capital markets, SECP firmly believes in greater transparency in the stock market. CBS provides a unique opportunity to listed companies for sharing deeper insights into their operations and address any potential concerns of relevant stakeholders. It is envisaged that through improvements in the conduct of CBS, the enhanced transparency will boost investor confidence in the stock market, which in turn will aid in efficient price discovery.
The Consultation Paper covers potential areas of improvement which have been identified based on a holistic review of the prevalent practices in capital market, feedback received from the relevant stakeholders and international research. Broad areas for improvements include: mandatory audio-video recordings, mandatory optionality for online participation, establishment of centralized repository for recordings, availability of written transcripts, mechanism for sending questions in advance, feedback surveys, and mandatory presence of CEO and CFO.
Interested persons and stakeholders can submit their feedback and comments within 15 days of publication of concept paper at cbs@secp.gov.pk.
