SECP Enhances Quasi-Judicial Operations with Revitalized Appellate Bench Registry

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has fortified its quasi-judicial functions through an invigorated and more effective Appellate Bench Registry. This improvement is indicated by the SECP’s recent appellate bench directives.

According to details released by the SECP on Tuesday, Chairman Akif Saeed acknowledged the Appellate Bench’s crucial position as the Commission’s ultimate adjudication platform and strategically emphasized institutional enhancements and judicial efficiency. This emphasis led to a stronger Registry, achieved by assigning a specialized and highly competent team and optimizing internal workflows to boost operational effectiveness.

These enhancements facilitated quicker resolutions for long-standing appeals and cleared a substantial backlog of cases dating from 2012 to 2020. This advancement was accomplished while maintaining the highest standards of legal justification and procedural impartiality, thereby bolstering the jurisprudential foundation of the Appellate Bench’s judgments.

The recent decisions have presented compelling interpretations of significant statutory clauses, notably within the Companies Act 2017. These interpretations are expected to serve as valuable reference points for legal experts, market participants, and regulatory bodies, significantly shaping and progressing corporate legal principles in Pakistan.

In line with transparency and accountability, all Appellate Bench orders are available to the public on the SECP website. Company secretaries, legal professionals, compliance officers, and other corporate stakeholders are encouraged to review these decisions, as they provide essential guidance for interpreting and implementing corporate laws.

In addition to these institutional changes, the Appellate Bench Registry has created a detailed digital archive of appellate decisions from the past two decades. This advanced internal tool categorizes all orders from 2006 to 2025 by section, statute, and year. The repository offers user-friendly, one-click access, greatly improving internal stakeholders’ ability to find and use authoritative interpretations and rulings from previous benches. This effort not only reinforces institutional knowledge but also encourages consistency in legal reasoning throughout the Commission.

Reflecting its dedication to continuous progress, the Registry has conducted a thorough review of the SECP (Appellate Bench Procedure) Rules, 2003.

The suggested revisions, created with input from internal stakeholders, aim to bring the procedural rules in line with evolving legal structures and practical operational demands. The updated draft is being finalized for submission to the appropriate body for approval and notification, marking another step toward making the Commission’s adjudicatory framework more transparent, efficient, and legally sound.

This transformative period for the Appellate Bench Registry shows SECP’s forward-thinking regulatory strategy, which prioritizes judicial excellence, stakeholder confidence, and institutional credibility. Chairman Akif Saeed’s strategic leadership has been crucial in spearheading these efforts, which collectively strengthen investor confidence and emphasize the Commission’s firm dedication to openness, legal integrity, and the timely and just delivery of justice across all platforms.