Advertisement Requirements for Asset Management Companies

-
Securities and Exchange Commission of Pakistan in the Circular No. 16 of 2021 dated 10 June 2021 has prescribed the requirements for Asset Management Companies (AMCs) about the advertisement related to equity schemes of an Open-end Collective Investment Scheme in print and social media. The Circular accompanies a standard format for the advertisement describing in detail the layout and font size of the advertisement. 

The Circulars states that calculation of return used in the advertisement shall be based on a minimum period of twelve preceding months on rolling basis. If an AMC launches a new fund, performance data of this CIS shall be presented only if the track record of last six-month performance is available. 

The AMCs shall immediately remove the outdated advertisement from print and social media. 

Please click here for more details.

Comments

Post a Comment

Popular posts from this blog

Removal of JamaPunji Message

-
Image
Securities and Exchange Commission of Pakistan (“SECP”) through SRO 346(I)/2020 dated 29 April 2020 has withdrawn it earlier directive issued under SRO 924 (I)/2015 on 9 September 2015. SECP, in SRO 924 (I)/2015 , instructed all the companies listed on Pakistan Stock exchange to include a message on “JamaPunji" in annual accounts and balance sheet. Now, listed companies don’t have to publish this message in annual report.  JamaPunji Ad JamaPunji is an initiative of SECP to provide fundamental knowledge and understanding of financial markets to general public and enhance financial literacy in the country.
Read more

SRO 78 (I)/2021 The Inland Revenue Reward Rules

-
Image
Federal Board of Revenue (FBR) issued SRO 78(I)/2021 on 22 January 2021 to introduce the Inland Revenue Reward Rules, 2021. The purpose was to consolidate rewards rules already issued from time to time and make a robust system of incentives to motivate officers of Inland Revenue for enhancing their performance.   The rules also provide incentives to whistle blower and informants not belonging to the office Inland Revenue. Snapshot Reference No. SRO 78 (I)/202 1 Description The Inland Revenue Reward Rules, 2021 Date of Issuance 22 January 20 21 Amendment Consolidation of the Reward Rules, 1980 dated 29 March 1988, The Sales Tax Reward Order dated 30 November 1998, The Unified Reward Rules, 2006 dated 05 December 2006 and SRO 398(I)/2016 dated 05 May, 2016 Objective To consolidate exiting reward rules and introduce a robust reward system for officials and staff ...
Read more

Constitution of Alternate Dispute Resolution Committee (ADRCs)

-
Federal Board of Revenue (the Board) issued SRO 101(I)/2021 on 28 January 2021 to notify the names of 6 more persons for the panels for Alternate Dispute Resolution Committee (ADRCs) in Multan, Islamabad and Karachi. These six person are in addition to already notified vide SRO 810 (I)/2020 by FBR. Snapshot Reference No. SRO 101 (I)/202 1 Description Constitution of Alternate Dispute Resolution Committee Date of Issuance 28 January 20 21 Objective To increase number of persons on the panel of Alternate Dispute Resolution Committee Effective date Immediate  
Read more