BY UZMA ZAFAR
ISLAMABAD: The federal government has appointed Akif Saeed as Chairman of the Securities and Exchange Commission of Pakistan (SECP).
The government issued a notification in this regard on Friday. He was earlier appointed as SECP Commissioner on December 13.
The new chairman had earlier served as SECP Commissioner from December 2014 to December 2017. He joined SECP in 2004 and served as head of various divisions. He has extensive regulatory, operational, and business knowledge of various infrastructure entities in the capital markets.
During his tenure at SECP, he contributed significantly towards instituting various legal and regulatory reforms for enhanced corporate governance, transparency, investor education, investor protection and risk management.
He was instrumental in introducing a legal framework for REITS and private equity, in addition to introducing private pension through the implementation of voluntary pension rules and issuance of a license to 4 pension fund managers in 2007. He played a vital role in achieving compliance with the IOSCO benchmarks principles of the securities market.
Saeed also led the team that worked on overhauling the securities laws in Pakistan and drafted the new Securities Act 2015 and Futures Act 2016.
He has also worked in various private sector entities including the American Express Bank and as a consultant for Asian Development Bank. He is a Chevening alumnus and completed his Master’s in Business Administration from the University of Edinburgh and also holds a master’s degree in economics from Government College Lahore.
