SECP directs all PFMs to incorporate KFS in Offering Document
According to a circular issued by the SECP on Friday, the KFS shall be subject to following minimum requirements: PFMs shall provide approved version of KFS for each Pension Fund before soliciting new investments.
PFMs shall ensure that KFS for each Pension Fund is readily accessible to investors on its website/ online portal. PFMs shall ensure that at the point of sale, including through PFM's website or a third-party digital portal/website, investors acknowledge receipt of the KFS and confirm their review ad understanding of its contents. This acknowledgment shall be obtained by requiring investors to sign off on the Investment Form for physical transactions and, in the case of online investments, through a pop-up screenshot incorporating a checkbox mechanism that allows participants to either accept or decline after review and validation.
The investment pop-up shall clearly state the following with a check box; 'I acknowledge that I have received and read the Key Fact Statement at the time of statement have read and understood the terms and conditions to the best of my knowledge and retained copy of the same.'
PFMs shall ensure the validity/correctness of the KFS including the incorporation of a subsequent amendment due to change in the fundamental attributes.
PFMs shall continue to make available updated copy of OD's on its official website and other digital means.
These requirements shall be applicable from August 15, 2025.
The PFMs shall submit supplemental constitutive documents to the Commission for information within one week from the date of amendments in terms of Regulation 673 (4) of the Nan-Banking Finance Companies and Notified Entities Regulations, 2008, the SECP added.
Copyright Business Recorder, 2025
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Recorder
25 minutes ago
- Business Recorder
Suzuki Motorcycles unveils new graphics for GD110S and GS110
KARACHI: Suzuki Motorcycles, a leading name in the global motorcycle industry, is pleased to announce the launch of its updated Suzuki GD110S and Suzuki GS110 models, now featuring striking new graphics that blend style, performance and modern aesthetics. This exciting development is part of Suzuki's commitment to offering fresh, dynamic options for Pakistani motorcyclists. The new graphic designs are aimed at giving both models a sleek, contemporary appeal, making them stand out in the competitive motorcycle market. Alongside the eye-catching visuals, Suzuki continues to focus on the quality, reliability, and performance that has made these motorcycles favourites among riders. Suzuki GD110S-Style and Comfort Combined The Suzuki GD110S offers a perfect combination of fuel efficiency, comfort, and performance. Engineered for daily commuting and long-distance travel, it comes with a 110cc engine that ensures smooth rides with excellent fuel economy. The newly introduced graphics elevate the bike's look while keeping its signature performance intact. Copyright Business Recorder, 2025
Business Recorder
25 minutes ago
- Business Recorder
Proliferation of unregulated furniture exhibitions comes under discussion
LAHORE: A delegation of the Furniture Association, led by Mian Afzaal, called on President of the Lahore Chamber of Commerce & Industry Mian Abuzar Shad and Vice President Shahid Nazir Chaudhry to highlight the growing concerns of the furniture industry in Pakistan, particularly in Punjab, caused by the unchecked proliferation of unregulated furniture exhibitions. Sohail Mahmood Butt, Khalil Abeer and others also spoke on the occasion. During the meeting, the delegation expressed deep concerns over the ongoing damage caused to legitimate furniture manufacturers, traders and thousands of skilled workers due to these unsupervised expos. Mian Afzaal said that what were originally intended to be promotional showcases have now transformed into full-fledged retail sales outlets, operating without oversight, tax compliance, or adherence to quality standards. He explained that many of these expo participants are non-tax filers, operate without proper showrooms or production facilities and often fail to provide after-sales service, which raises serious concerns about their credibility. 'These expos are being misused to exploit tax loopholes while legitimate businesses suffer,' he said. The delegation also presented data showing that many exhibitions promote '50–70% discount' campaigns, clearly reflecting their retail nature. They said that unlike global practices, where exhibitions are organized once or twice a year under government supervision to promote local industry, Pakistan is witnessing arbitrary and frequent expos in various cities, hurting the existing regulated market. The Furniture Association urged the LCCI leadership to play an active role in addressing this alarming situation. Their proposals included regulating furniture exhibitions and ensuring compliance with tax and quality standards, restricting participation to registered businesses with operational facilities and verified NTNs, ensuring protection of consumer rights including mechanisms for after-sales service and coordinating with authorities to enforce fair trade and restore balance in the furniture market. LCCI President Mian Abuzar Shad appreciated the delegation for bringing the matter to light and assured full support from the LCCI. He agreed that unregulated trade practices not only hurt compliant businesses but also weaken national economic stability. He said that LCCI stands committed to the protection of genuine business stakeholders and would raise the matter with the concerned authorities at the highest level. Vice President Shahid Nazir Chaudhry also expressed solidarity with the industry and stressed the importance of equal opportunity and market fairness for sustainable economic growth. The delegation thanked the LCCI leadership for their time and positive response, expressing hope that with the Chamber's backing, practical steps would soon be taken to protect the furniture industry from further decline. Copyright Business Recorder, 2025
Business Recorder
25 minutes ago
- Business Recorder
UBL expands strategic partnership with Teradata
KARACHI: United Bank Limited (UBL), one of Pakistan's leading financial institutions, has announced the expansion of its strategic partnership with Teradata. The collaboration includes an upgrade of UBL's data environment, leveraging Teradata's enterprise analytics and data platform for Trusted AI at scale, with the flexibility to deploy cloud infrastructure where applicable. This collaboration marks a pivotal step in UBL's digital transformation journey, as the bank transitions to a cutting-edge, open, and connected Data Lakehouse platform. Speaking at the signing ceremony, UBL's Chief Information Officer, Sohail Aziz, emphasized that this partnership is a major milestone in the bank's digital evolution, unlocking powerful analytics and AI capabilities to drive innovation and enhance customer experiences. He highlighted that the upgraded platform will enable faster, data-driven decision-making and more personalized banking services. Teradata's Area Vice President for Pakistan, Mr. Waqas Hashmi, reinforced the long-standing collaboration, stating that Teradata's AI-powered data platform will allow UBL to harness the full potential of its data, accelerate strategic initiatives, and strengthen its leadership in Pakistan's competitive banking sector. Copyright Business Recorder, 2025
