ISLAMABAD – The Securities and Exchange Commission of Pakistan has raised value of claims of insurance policy holders to be arbitrated by small dispute resolution committees.
The limits of pecuniary value of claims have been increased to 2.5 million rupees for motor and life insurance policies and 5 million rupees for domestic insurance policies.
The limits of disputes being arbitrated by the SECP as prescribed under the rules were quite nominal, so majority of the disputes did not fall within the jurisdiction of the committees.
The Securities and Exchange Commission of Pakistan has strengthened its monitoring and surveillance of trading activity at the exchanges and restructured and reinforced its Market Surveillance and Special Initiatives Department.
Stringent measures will be adopted to ensure integrity and fairness in the trading activity and to identify abusive, manipulative and irregular trading practices.