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SECP asks stock brokers to furnish details by June 22

KARACHI (June 21 2006): The Securities Exchange Commission of Pakistan (SECP) has asked a number of stock brokers to submit the series of details by June 22 in order to get confirmation whether they were involved in blank or short selling of shares during last week's unprecedented decline.

According to capital market sources: trial balance as of March 31, 2006, April 30, 2006, May 31, 2006 and June 15, 2006 (giving details for all levels including subsidiary ledgers). Ledger accounts of all clients, including house trading account for the period from April 1, 2006 to June 15, 2006.

Client wise, scrip wise, shareholding position as of March 31, 2006, April 30, 2006, May 31, 2006 and June 15, 2006 (back office statements). Audited accounts as of June 30, 2005, along with the trail balance and management letter. List of bank accounts being maintained by the brokerage house along with copies of bank statements and details of accounts activity (back office) during the period from April 1, 2006 to June 15, 2006.

Copies of contract notes and trade confirmations sent/transmitted to clients during the period from April 1, 2006 to June 15, 2006. Copies of all documents in respect of receipts/payment relating to clients/house account during the period from April 1, 2006 to June 15, 2006.

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