The Securities and Exchange Commission of Pakistan (SECP) has commenced Phase 2A of its comprehensive digital transformation initiative, LEAP. This phase focuses on the automation of insurance licensing and regulatory approvals, followed by the end-to-end automation of Non-Banking Finance Companies, the Securities Market, and Section 42 companies.
Building on the success of the initial phase, which saw the launch of the advanced corporate registry “eZfile” – a user-friendly online portal for company registration and post-incorporation filings – SECP is now poised to enhance regulatory processes further.
To mark the beginning of this next phase, SECP, in collaboration with technology partner Techlogix Pakistan and project consultants Ernst & Young (EY), hosted a thematic workshop. The event aimed to present proposed solutions to stakeholders and gather critical feedback, ensuring a comprehensive understanding of user requirements. This interactive session was designed to foster collaboration and develop user-centric solutions that meet the needs of all stakeholders.
Addressing the participants, SECP Chairman Akif Saeed reaffirmed the commission’s commitment to facilitating ease of doing business, ensuring regulatory facilitation, enhancing customer experience, and maintaining transparency and accountability in all regulatory processes.
SECP’s Commissioner of Information Systems & Technology, Aamir Khan, highlighted the organization’s efforts to upgrade its systems and resources by adopting the latest technology stacks and a data-driven decision-making approach, with a strong emphasis on a customer-centric model.
During the workshop, participants from SECP, Pakistan Stock Exchange (PSX), Central Depository Company (CDC), National Clearing Company of Pakistan Limited (NCCPL), brokers, surveyors, and other regulated entities provided valuable feedback on various digital solutions and prototypes for regulatory approvals and licensing.
The SECP’s continued efforts in digital transformation underscore its dedication to modernizing regulatory frameworks, enhancing efficiency, and improving the overall business environment in Pakistan.