SECP Warns Public Against Illegal Deposit Taking
SECP Warns Public Against Illegal Deposit Taking Mere registration of a company doesn’t confirm the right to seek investments The Securities and Exchange Commission of Pakistan (SECP) has clarified that mere registration of a company with SECP does not authorize it to seek deposits from the general public. Deposit-taking by companies other than banking companies is illegal in terms of section 84 of the Companies Act 2017. Furthermore, financial services including car financing, leasing, accep...
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Source: propakistani.pk