04.03.2013 - SECP fines Pak-Qatar Family Takaful for deceptive marketing
The Securities and Exchange Commission of Pakistan (SECP) directed the Pak-Qatar Family Takaful and its CEO to pay Rs800,000 and Rs200,000, respectively, in fines to the regulator within 30 days for running advertisements containing “deceptive and/or misleading information” through one of its agents. BankIslami Pakistan published an advertisement in Dawn on October 27 last year that promoted three Takaful products of Pak-Qatar Family Takaful. However, the name of Pak-Qatar Family Takaful was not printed anywhere in the advertisement. According to the SECP order passed on February 26, the advertisement did not suggest any involvement of Pak-Qatar Family Takaful with the products; and therefore, it was “deceptive/misleading for the public at large.”..............................................Full Article: Source
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