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KARACHI: Pakistan Stock Exchange (PSX) has introduced a Compliance Calendar to consolidate applicable requirements of stock market regulations for listed companies.
“PSX being the premier exchange of the country and a frontline regulator ensures and monitors the timely fiscal disclosures, announcements of material and price-sensitive information for the benefit of shareholders and other stakeholders of the capital market,” said a press release issued by PSX.
To automate and simplify the process of regulatory and financial disclosures, PSX introduced PUCARS (Pakistan Unified Corporate Action Reporting System) which facilitates listed companies in submission of required information and ensuring timely disclosure directly on PSX website.
Going a step further, PSX has now introduced a Compliance Calendar which consolidates applicable requirements of PSX Regulations, including requirements of financial disclosures, and serves as a guide for listed companies to meet their requirements in accordance with their deadlines.
The Compliance Calendar also consists of forms to be used from the Correspondence Manual for dissemination and submission of particular information.
The Compliance Calendar consists of both periodic as well as situational requirements. As a matter of good governance, PSX said it encourages all listed companies to fulfill regulatory requirements prior to their due dates in order to avoid any delay or adverse consequences.
Speaking about the introduction of the Compliance Calendar, Managing Director and Chief Executive Officer (CEO) , PSX, Farrukh H. Khan, said, Pakistan Stock Exchange is fully cognizant of its role as a frontline regulator with regard to facilitating and encouraging listed companies in fulfilling their regulatory requirements within stipulated time and thereby staying ahead of the curve.
He further stated by introducing the Compliance Calendar, PSX reiterates its commitment to facilitate listed companies in ensuring timely dissemination of information and adhering with the regulatory requirements at all times.
