The Securities and Exchange Commission of Pakistan (SECP) has instructed all unlisted SECP-licensed companies to publicly share their audited financial statements through the “Financial Portal for Unlisted Companies” (FPUC), a platform developed by the Pakistan Stock Exchange (PSX). This move aims to enhance transparency and public access to financial information.

Under the directive, unlisted licensed companies are required to contact PSX within 30 days to gain access to the FPUC and upload their most recent annual audited financial statements. These companies must continue to upload future audited financial statements on the portal until they are listed on the PSX. Future uploads must comply with the timelines specified in the relevant laws governing the preparation and circulation of audited financial statements.

The SECP clarified that unlisted licensed companies can register and upload their financial statements on the FPUC free of cost. Similarly, the public will not be charged for accessing these statements. To streamline the process, companies need only sign an agreement with PSX and provide details of authorized representatives for the creation of a user ID. The portal offers a simple and interactive interface for uploading financial statements.

The SECP emphasized that licensed companies, due to the nature of their activities, have significant public interest considerations and must adhere to higher standards of transparency compared to regular businesses. This initiative is part of the SECP’s broader efforts to ensure accountability and public trust in licensed entities.

As Pakistan’s apex regulator for capital markets, the SECP oversees a wide range of sectors, including the corporate sector, insurance industry, non-banking finance companies, modarabas, private pension schemes, and other regulated activities. With its extensive regulatory mandate, the SECP plays a critical role in issuing licenses and ensuring compliance across various industries.