{"id":3917,"date":"2021-01-01T10:25:54","date_gmt":"2021-01-01T10:25:54","guid":{"rendered":"https:\/\/pni.net.pk\/en\/?p=3917"},"modified":"2021-01-01T10:25:56","modified_gmt":"2021-01-01T10:25:56","slug":"secp-introduces-digital-onboarding-mechanism-for-amcs-investors","status":"publish","type":"post","link":"https:\/\/pni.net.pk\/en\/latest-business-news\/secp-introduces-digital-onboarding-mechanism-for-amcs-investors\/","title":{"rendered":"SECP introduces digital onboarding mechanism for AMCs investors"},"content":{"rendered":"\n<p>ISLAMABAD \u00a0 &#8211; \u00a0 As part of its efforts to usher in a new era of smart investments, the Securities and Exchange Commission of Pakistan (SECP), has introduced the digital onboarding mechanism for investors of the Asset Management Companies (AMCs). In this respect, SECP has issued Circular No 35 of 2020 and placed on its website. The Digital Onboarding mechanism offers investors not only a seamless account opening process for investments in mutual funds but also eliminates the requirement of physical presence and submission of physical documents. The AMCs are now allowed to conduct online Customer Verification process for opening of online accounts to ensure investor protection and compliance with the entire applicable relevant legal and regulatory framework. Furthermore, the mechanism introduces digital verification for authentication of the investor and original identification documents through virtual meeting application (WhatsApp, Skype, etc.) for online face to face interaction on a real-time basis. Besides, a simpler account opening process eliminates the physical signing of different forms and declarations by the investors. Introduction of Digital Onboarding Mechanism reflects the SECP\u2019s continued commitment towards digitisation while ensuring the growth of the non-bank financial sector and capital markets. The virtual onboarding of investors in Pakistan is expected to boost innovation and competition in the mutual fund industry encouraging the use of financial technology and fostering financial inclusion.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ISLAMABAD \u00a0 &#8211; \u00a0 As part of its efforts to usher in a new era of smart investments, the Securities and Exchange Commission of Pakistan (SECP), has introduced the digital onboarding mechanism for investors of the Asset Management Companies (AMCs). In this respect, SECP has [&#8230;]<\/p>\n<p>\n","protected":false},"author":2,"featured_media":3918,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[2795,2794,1128,2078],"class_list":["post-3917","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-business-news","tag-amcs-investors","tag-digital-onboarding-mechanism","tag-introduces","tag-secp"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SECP introduces digital onboarding mechanism for AMCs investors - Pakistan News International<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pni.net.pk\/en\/latest-business-news\/secp-introduces-digital-onboarding-mechanism-for-amcs-investors\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"SECP introduces digital onboarding mechanism for AMCs investors - Pakistan News International\" \/>\n<meta name=\"twitter:description\" content=\"ISLAMABAD \u00a0 &#8211; \u00a0 As part of its efforts to usher in a new era of smart investments, the Securities and Exchange Commission of Pakistan (SECP), has introduced the digital onboarding mechanism for investors of the Asset Management Companies (AMCs). 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