Karachi May 25, 2022: Pakistan Stock Exchange (PSX) informed that the persistent failure of Azee Securities (Pvt.) Limited (“AZEE”) to remove the shortfall in its client’s funds indicates its financial precariousness, which renders it unable to meet its fiduciary obligations toward customers.
Resultantly, PSX is continuously receiving customer complaints against AZEE.
Considering the severity of the issues and failure of AZEE to honor its commitments to remove the continuous shortfall in clients’ funds, PSX has decided to suspend the trading terminals of AZEE with immediate effect under PSX Regulation 20.5.2(g).
It is pertinent to inform you that the suspension of trading terminals does not affect the rights of the customers of AZEE to transfer their securities to either their Investor Account or trading account maintained with other securities brokers. In this regard, the customers may contact the Central Depository Company of Pakistan Limited for the transfer of their securities in accordance with their procedures.
