SECP Unveils Stringent Anti-Harassment Guidelines for Listed Companies

SECP Proposes Groundbreaking Amendments to Foster Workplace Safety and Respect in Listed Companies

In a significant move towards creating safer and more respectful workplaces, the Securities and Exchange Commission of Pakistan (SECP) has released draft amendments to the Listed Companies (Code of Corporate Governance) Regulations, 2019, inviting public input. The proposed changes mandate the implementation of robust anti-harassment policies by the boards of directors of listed companies, aligning with the Protection against Harassment of Women at the Workplace Act, 2010, and relevant provincial laws.

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These policies aim to safeguard the rights and well-being of all employees, cultivating a more inclusive and equitable work environment. The amendments outline crucial measures for the effective implementation of anti-harassment policies, including the development of a Code of Conduct, the establishment of an Inquiry Committee, the designation of a Competent Authority, and the display of the Code of Conduct for awareness among all employees, ensuring clear communication and accessibility.

This initiative represents a significant stride towards constructing a more equitable and ethical corporate landscape in Pakistan. The integration of robust anti-harassment policies into the Code of Corporate Governance establishes a compelling precedent for responsible business practices, underscoring the SECP’s dedication to fostering safe and empowering workplaces for all. The draft amendments are open for public comments and feedback on the SECP’s website at https://www.secp.gov.pk/document/notification-amendments-to-the-listed-companies-code-of-corporate-governance-regulations-2019/?wpdmdl=50448