Acting MD KSE barred from assuming new office

AZHAR ALI KHAN

KARACHI: The country's biggest shares market and the securities watchdog have locked horns over the appointment of acting Managing Director of the Karachi Stock Exchange (KSE), revealed a letter sent by the SECP to KSE Wednesday directing Haroon Askari not to assume his new office.
"The acting MD has been barred to assume his new duties," confirmed an official of KSE.
The letter sent to KSE said that the Board of Directors can not appoint anyone to the post of managing director without the consent of the securities regulator.