SECP commissioner took away sensitive data

 Aftab Ahmed

While breaching the information securities policies and conducting criminal negligence, the SECP Commissioner Shaukat Hussain at the end of his 3-year term as Commissioner took along his official laptop carrying sensitive information, data, reports, investigations, and draft of various policy documents, etc. His 3-year term as Commissioner SECP completed on March 26, 2021.

The SECP is an apex regulator of capital markets, corporate, insurance, and non-banking financial sector, this strict code and policies of information securities applies to its employees and Commissioners. In case of leaving the organization, for any reason, Commissioners are required to return their laptop and other equipment to the organization’s information technology department which immediately formats the hard disk and deletes all data in it.

However, the Commissioner SECP Shaukat Hussain Abbasi, whose 3 year term ended on March 26, 2021, didn’t return the official laptop to the organization. Hussain, by virtue of their position as Commissioner, had access to important official internal and private data and sensitive information including, but not limited to investigations, inquiries, enforcement orders, draft of policies, draft of appellant bench decisions etc.

Former prime minister Shahid Khaqan Abbasi appointed Shaukat Hussain as Commissioner, SECP on March 27, 2018. Later, on May 11, 2018 (during the last month of PML-N’s government)  Shaukat Hussain Abbasi became Chairman of SECP.

Earlier, on January 10, 2018, he had been promoted from the post of Director to the Executive Director on probation for a period of six months. However, before completion of his probation, he was appointed Commissioner and then Chairman SECP by Shahid Khaqan Abbasi.

It was due to these allegations that Prime Minister Imran Khan on October 3, 2018, ordered the removal of Shaukat Abbasi as Chairman SECP. In order to secure the privileged position, Shaukat Abbasi tendered his resignation from the post of Chairman but sustained to work as Commissioner in SECP at a monthly remuneration of over Rs2.5 million.