SECP invites TCC ADR Centre for Strategic Dialogue at SECP Headquarters
SECP HEADQUARTERS, ISLAMABAD - Mian Sheraz Javaid, Chair of TCC ADR Centre, and a prominent figure in the legal and financial sectors, engaged in a strategic dialogue with the Securities and Exchange Commission of Pakistan (SECP)'s legal team. The meeting was organized to discuss the future of Alternative Dispute Resolution (ADR) and arbitration within the regulatory framework of SECP.
As the main regulator for securities and financial markets in Pakistan, SECP's role in dispute resolution is paramount. The core of the discussion revolved around SECP's bylaw, which emphasizes the promotion of ADR and arbitration. Both parties discussed how to seamlessly integrate ADR within the mechanisms and workings of SECP. This includes creating a robust framework that aligns with international standards and caters to the unique needs of the Pakistani market. Mian Sheraz Javaid and the SECP's legal team also explored various avenues to enhance the effectiveness of dispute resolution mechanisms within the financial sector.
TCC ADR Centre aims to support the business community by focusing on technology, construction and commercial disputes with efficiency, fairness, and integrity. They are a not-for-profit organization registered under Section 42 of the Companies Act 2017 of The Islamic Republic of Pakistan, that promotes the use of ADR with accredited trained and qualified experts and neutrals. TCC strives to provide a transparent and accessible alternative to traditional litigation which can foster a thriving investor climate and deliver excellence to businesses and industries across the nation. Embrace a new era of resolution as we navigate the way to harmony and success for the future.
Both parties also deliberated on the practicalities of setting up ADR centers specifically tailored for SECP. These centers would serve as hubs for resolving disputes efficiently, thereby fostering a more conducive business environment.
The meeting between TCC ADR Centre and SECP's legal team marks a significant step towards modernizing and strengthening the dispute resolution landscape in Pakistan. By aligning with international standards and leveraging the expertise of organizations like TCC ADR Centre, SECP is poised to become a leader in ADR and arbitration. This collaboration not only reflects a commitment to excellence but also a vision for a more transparent and efficient financial sector.