The year 2011 begins with a full-quorum Securities and Exchange Commission of Pakistan – first time in more than two years. Will this protect  investors and restore their confidence? Investor confidence is the foundation of a well-functioning capital market. The brokers acquiring regulatory positions in the SECP have over the years thwarted the compliance of investor protection provisions of capital  market laws and have badly eroded investor confidence in the stock market. Several provisions in the SECP Act 1997 require the SECP to maintain the confidence of investors in the securities markets by ensuring their adequate protection. It is mandated to take whatever action is necessary to enforce capital market laws and its Policy Board is required to oversee the performance of this regulatory body. But the SECP has avoided to build genuine investor protection mechanisms in pursuance of these investor protection provisions and its board has not done anything to arrest the deteriorating performance. Full Story