How this site reads the two registers

The figures on this site come from two published sources, read once a week. The alert table is read from the investor alerts section of the Securities and Exchange Commission of Pakistan's website. The broker table is read from the Pakistan Stock Exchange's published list of trading right entitlement certificate holders, with the status the list shows.

What the SECP alerts page contains

The SECP's investor alerts page names companies and websites that the regulator says are not authorised to offer a financial activity. Each alert carries a date, and the table on this site records the name exactly as the source wrote it, the date the source published, what the alert concerns, and a link to the original. The page changes rarely because the SECP publishes few alerts, and the length of the list reflects what the regulator chose to publish, not how many platforms exist.

A row in the alert table is a record of what the SECP published, not a finding of this site. The SECP does not publish a list of authorised apps or platforms, so absence from this table does not show that a platform is authorised. The alerts are public notices, not court orders, and they do not close a platform down.

The exchange list and its three statuses

The Pakistan Stock Exchange publishes a list of firms holding a trading right entitlement certificate. This site reads that list and shows the name exactly as the source wrote it, the date the source published the list, the status shown, and a link to the original. The statuses that appear are registered, suspended or unknown, and each is a snapshot from the date of the read.

A firm on the list with a registered status holds a certificate that lets it trade on the exchange. A suspended status means the certificate is not currently active, and unknown means the list did not state a clear status. The list is maintained by the exchange, and a status can change between one weekly read and the next.

How the weekly read treats a name in both or neither

Each week the two tables are read from their sources and placed side by side. A name that appears in both the SECP alerts and the exchange list is shown in both tables, each with its own date and status. The site does not combine the two records or draw a conclusion from the overlap; it simply shows what each regulator published.

A name that appears in neither table is not shown, and the site does not infer anything from that absence. The SECP's alert list is short, and the exchange list covers only firms with trading rights. A platform that is not on either list may still be operating, and the reader must decide what that absence means.

What the site refuses to conclude from a short list

The SECP publishes relatively few alerts, so the alert table is not a measure of how many platforms are unauthorised. The site does not rate or rank any firm, and it does not call any entity a scam or a fraud. A listing is a regulator's act, not this site's verdict.

The site does not claim that checking a name against these two lists makes a platform safe. The exchange list shows trading rights, not suitability for a client, and the SECP alerts show only what the regulator has chosen to publish. The reader must read the original sources and decide for themselves.