ISLAMABAD: The Federal Investigation Agency (FIA) has requested details from the Securities and Exchange Commission of Pakistan (SECP) regarding cases of insider trading and market manipulation in the country’s capital markets. This move comes as part of FIA’s broader mandate to investigate money laundering linked to financial crimes, as outlined in the Anti-Money Laundering Act, 2010.
In response to the FIA’s request, SECP clarified that it has been investigating insider trading and market manipulation cases and has filed criminal complaints in relevant courts under the Securities Act, 2015. The SECP has shared a list of 27 criminal complaints filed in courts since 2008, providing details of completed investigations in line with the Anti-Money Laundering (Referral) Rules, 2021.
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The referral does not implicate the companies whose securities were manipulated or the brokerage firms involved in the trading but focuses solely on individuals found guilty of insider trading and market manipulation. The record of these cases is publicly available as part of judicial proceedings, accessible by any authority or person applying to the courts.
The collaboration between the FIA and SECP marks a step toward strengthening regulatory oversight and addressing financial misconduct within the capital markets.
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