Through these amendments, SECP has proposed to introduce a perpetual license for non-banking finance companies by replacing the existing requirement of renewal of license after every three years. Its proposed to allow an NBFC to undertake different licensed activities. However, lending NBFCs will be required to obtain Private Equity & Venture Capital license. Its also proposed to allow investment advisors to manage and launch ETFs and listed collective investment schemes.
To facilitate formation of new NBFCs, a more rationalized procedure to seek the commission’s permission to form an NBFC and obtain relevant NBFC license has been proposed. Draft amendments can be accessed at
https://secp.gov.pk/document/notification-draft-amendments-in-non-banking-finance-companies-establishment-and-regulations-rules-2003/?wpdmdl=39866&refresh=5f323201e77a81597125121
