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Business
SECP introduces ICRS system
Dated: 2012-06-27
ISLMABAD: To streamline the submission of regulatory information required by the Securities and Exchange Commission of Pakistan (SECP), the Commission has introduced an online regulatory returns submission system.
It has been introduced under the Insurance Ordinance, 2000 and other relevant laws. The Insurance Companies Return Submission (ICRS) system, which is being implemented from July 1, 2012 for life and non-life insurance companies.
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It has been introduced under the Insurance Ordinance, 2000 and other relevant laws. The Insurance Companies Return Submission (ICRS) system, which is being implemented from July 1, 2012 for life and non-life insurance companies.
Recently, orientation workshops were conducted by the Commission at Karachi and Islamabad.
In order to facilitate the transitions towards the new system, all life and non-life insurers are required to submit their regulatory returns through ICRS system, namely the annual returns for year ended December 31, 2011 by July 15, 2012 and 1st quarterly returns for period ended March 31, 2012 by July 31, 2012.
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