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SECP prepares to launch “eZfile,” a new corporate registry

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) is gearing up to introduce a cutting-edge corporate registry called “eZfile”. This online portal, part of SECP’s digital transformation initiative LEAP—Leading Efficiency through Automation Prowess, is designed to streamline company registration and post-incorporation filings with enhanced sophistication and user-friendliness.

As per details, eZfile, poised to replace the current online filing system, ‘eServices,’ offers a modern interface and advanced features to simplify processes such as incorporation and statutory filings. Users will benefit from built-in checks and guidance messages, ensuring a seamless experience.

The SECP has revamped the regulatory framework by consolidating multiple forms into a reduced set of 28, down from 75, eliminating redundancy and enhancing clarity. The newly issued “Companies Regulations 2024” cover various aspects including company incorporation, compliance, licensing under Section 42 of the Companies Act, 2017, share capital issuance, group registration, and exit procedures, among others. Standardized forms and application samples are included for easier compliance.

Implementation of the Companies Regulations, 2024 will be phased in alongside the LEAP project rollout, as detailed in the Commission’s notification.