SECP Chairperson Urges Streamlining of Account Opening Process in Capital Markets

The Chairperson of the Securities and Exchange Commission of Pakistan (SECP) held a high-level meeting with the chief executives of Capital Market Infrastructure Institutions (CMIIs), including the Pakistan Stock Exchange (PSX), the Central Depository Company (CDC), and the National Clearing Company of Pakistan (NCCPL). The meeting was attended by the CEOs of PSX and NCCPL, and the Chief Operating Officer of CDC. The focus of the discussion was to streamline the account opening process in Pakistan’s capital markets to enhance investor experience and accessibility. The Chairperson emphasized adopting an investor-centric perspective, urging the CMIIs to prioritize user experience and to define a clear end-goal for the account opening process. He advised the CMIIs to evaluate the existing procedures, identify pain points, and implement reforms to make the process quicker, more efficient, cost-effective, transparent, and user-friendly. The PSX was advised to take the lead and collaborate with other CMIIs and relevant stakeholders to establish a clear roadmap with specific milestones to achieve a simplified, quick, and smooth account opening process. This initiative aligns with SECP’s ongoing efforts to modernize the capital market infrastructure and promote digital onboarding to facilitate investors. The roadmap will include actionable steps to address bottlenecks, enhance digital capabilities, and ensure a time-efficient process. The SECP remains committed to fostering a robust and inclusive capital market ecosystem that empowers investors and supports economic growth in Pakistan.