SECP Withdraws License Cancellation Order for Four Brokerage Firms

The Securities and Exchange Commission of Pakistan (SECP) has withdrawn its earlier license cancellation order for four brokerages. “It is disseminated for the information of all that the Commission has withdrawn the cancellation notice of Broker’s License of the Company as announced by Pakistan Stock Exchange,” First National Equities Limited (PSX: FNEL) acknowledged the withdrawal in a filing to the main bourse today. “The Company remains hopeful for the earliest approval of application submitted for the category conversion of its broker’s license under the prevailing laws and regulations,” it added. This comes after SECP cancelled broker’s licenses of First National Equities Limited, First Choice Securities Limited, Surmawala Securities (Private) Limited, and Falki Capital (Private) Limited on January 1, 2025.