SECP to ensure filing of tax return from registered firms.

Karachi -- The Securities and Exchange Policy Board has directed SECP to ask all the registered companies to ensure that annual tax returns are filed in accordance with law.

The board met here under the chairmanship of Professor Khalid Mirza. The Policy Board was advised by the chairman SECP that a letter had been issued in regard to recall of officers deputed to a law enforcement agencies and a response would hopefully be received before the next board's meeting.

The commission was advised by the board that they should do a fact finding with respect to all officials of the commission which have been implicated and come out with a considered view as to what occurred and if anything went wrong what was it.

SECP submitted its annual report for the year ended 2018-19 for approval of the Policy Board. The board decided that it will be looked at by the members and possibly cleared in the next meeting.

Meeting again expressed concern about the fact that secretary level officials who are ex-officio members of the board do not attend Board's meetings and instead send their nominees to do so. This dilutes the efficacy of the board. It decided to issue a letter addressed to the ministry of finance requesting that they urge the officials concerned to do their best to attend all Policy Board meetings.

It was decided in the meeting that the Commission should carry out an exercise for amalgamation of the Securities Act...