SECP Launches Phase 2 of LEAP Project

The Securities and Exchange Commission of Pakistan (SECP) has embarked on the second phase of its digital transformation project, LEAP: Leading Efficiency through Automation Prowess. This phase is dedicated to automating regulatory approvals and licensing processes to enhance efficiency and streamline operations within the SECP.

In the initial step of Phase 2A, the focus is on automating insurance licensing and regulatory approvals. The SECP plans to extend this automation to Non-Banking Finance companies, the Securities Market, and Section 42 companies in the future. Previously, the SECP introduced 'eZfile,' an online portal for company registration and filings, to simplify processes.

To kick off the second phase, the SECP collaborated with Techlogix Pakistan and Ernst & Young (EY) to conduct a workshop. The workshop aimed to propose solutions to stakeholders, gather feedback, and ensure that the digital solutions meet user requirements effectively.

SECP Chairman Akif Saeed reiterated the organization's commitment to facilitating business operations, ensuring regulatory compliance, and enhancing customer experience with transparency and accountability. Aamir Khan, SECP's Commissioner of Information Systems & Technology, highlighted the agency's focus on upgrading systems and leveraging technology for data-driven decision-making to improve customer satisfaction.

During the workshop, participants from various entities provided feedback on digital solutions for regulatory approvals and licensing. This collaborative effort showcases SECP's dedication to modernizing processes and engaging stakeholders effectively in regulatory functions.

The SECP's Phase 2 of the LEAP project marks a significant step towards digital transformation in regulatory processes. By embracing automation and collaboration, the SECP aims to enhance efficiency, transparency, and stakeholder engagement. This initiative reflects the SECP's commitment to modernizing operations and improving the overall regulatory landscape in Pakistan.