SECP files criminal case against brokerage house CEO

SECP files criminal case against brokerage house CEO: HumSub.TV

SECP files criminal case against brokerage house CEO: HumSub.TV: The Securities and Exchange Commission of Pakistan (SECP) filed a criminal complaint against the chief executive officer of Cedar Capital (Private) Limited (CCPL) and his two prominent clients for manipulating share prices of Pak Elektron Limited (PAEL) at the Pakistan Stock Exchange on Friday.

The case was filed in the court of sessions judge Karachi, according to a statement issued by the SECP.

The investigation revealed that CCPL clients illegally urged a potential market investor to trade in PAEL shares by manipulating price and volume to create an artificial market.

The investigation report covers two review periods – from April 1, 2013 to April 16, 2013 and from May 17, 2013 to July 8, 2013.

The accused, as part of their scheme, traded 13.433 million shares of PAEL constituting 18% of the total trading volume during the first period.

During the second period, the accused traded 19.416 million shares of PAEL, which comprised 22% of the trading volume during the period.

SECP files criminal case against brokerage house CEO: HumSub.TV

About HumSub TV
Introduction
HumSub TV is Pakistan’s leading forwarding-thinking, edutainment channel, aimed at promoting and upholding peace, interfaith harmony and social responsibility within Pakistan through informative and insightful programmes and documentaries; analytical interviews on issues pertaining to social, economic, legal and environmental set-up; dedicated shows to canvass and thereby promote the culture and heritage of Pakistan and in-depth coverage of national and international news.

HumSub TV is the first channel and thus a pioneer within its own right that mainly focuses on emphasising the “Rights” as well as the “Obligations” of the citizens in light of the Constitution of Pakistan, numerous International declarations signed by the Government and various laws that have been promulgated over the years but are not in the knowledge of the common citizen.
HumSub TV also aims to enter into bilateral agreements with other countries to promote not only their culture, heritage and tourism, but also their educational and medical facilities.
Following the successful launch of HumSub TV’s head office in Blue Area, Islamabad; the bureau office has been set up in Lahore.

Vision
To project positive image building of Pakistan and inculcate nationalism, as per the vision of the founder of the nation, Quaid-e-Azam Mohammad Ali Jinnah.

Mission
HumSub TV is resolute about the promotion of a pluralistic, inclusive and egalitarian society in Pakistan where all citizens are allowed to contribute to promote interfaith harmony, peace and collective wisdom in the social, political and economic development of Pakistan and to encourage critical and lateral thinking in the society. HumSub TV strives to make a positive contribution to this end.

HumSub TV’s Theme
HumSub TV, Pakistan’s first EDUTAINMENT Channel, has been set up for not only those audience residing in Pakistan or overseas but the international community on the whole. The vision of the channel is to project positive image building of Pakistan and inculcate nationalism as per the vision of the founder of the nation.

HumSub TV strives to make a positive contribution to this end by promoting pluralism, inclusiveness and egality in Pakistan and give voice to the suppressed. It endeavors to act as a positive catalyst for social change and Pakistani nationalism. It envisions providing a platform for airing critical and lateral thinking and collective wisdom by inviting positive minded intellectuals and opinion forming individuals for the promotion of interfaith harmony and peace in the social, political and economic development of Pakistan.

Whereas the channel airs upbeat edutainment programmes, it, nonetheless, has the primary objective of countering negative anti-Pakistan regional and international propaganda as well as advancing fundamental rights as encapsulated in the Constitution of Pakistan.

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