VIS Upgrades ER Of Adam Securities

VIS Credit Rating Company Limited has reaffirmed the Broker Management Rating of BIPL Securities Limited at 'BMR2+'. Outlook on the assigned rating is stable

KARACHI, (UrduPoint / Pakistan Point News - 3rd Mar, 2021 ) :VIS Credit Rating Company Limited has reaffirmed the Broker Management Rating of BIPL Securities Limited at 'BMR2+'. Outlook on the assigned rating is stable.

Previous rating action was announced on March 31, 2020, says release on Wednesday.

The rating signifies strong human resources and infrastructure, sound regulatory framework, internal and external controls, client relationship management and compliance levels whereas financial management is considered adequate.

Assigned rating takes into account BIPL's improvement in net capital balances and sound board governance levels.

However; formation of risk management committee will bode well in best corporate governance practices.

On the internal control front, a separate conflict of interest policy may be included to strengthen the overall control framework. Holding period needs to be extended in employee trading guidelines while blackout periods for institutional and corporate trade are practiced. Control functions are autonomous and compliance of regulations is considered sound.