The appointment, renewal, and termination of services of the chief executive officer of a professional clearing member shall be made with the prior approval of the Securities and Exchange Commission of Pakistan (SECP).
The SECP issued an S.R.O.244(I)/2025 on Wednesday to release draft amendments to Professional Clearing Members Regulations, 2020.
The board of directors of a professional clearing member shall determine the manner of appointment, terms and conditions of appointment, and other procedural formalities associated with the selection/appointment of the chief executive officer.
A chief executive officer shall be appointed by the professional clearing member through following process:
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