SECP data leak: Arsalan Zafar challenges formation of probe committee

The prime suspect in the Securities Exchange Commission of Pakistan (SECP) data leak issue, Arsalan Zafar, has challenged the formation of the investigation committee in the Islamabad High Court (IHC), Friday.

The prime suspect and SECP additional director Arsalan Zafar moved to the Islamabad High Court (IHC) to challenge the formation of an investigation committee for probing into allegations of a sensitive data leak.

In his petition, Zafar stated that he was sent on forced leave on September 9 besides the seizure of his laptop. The petitioner claimed that he had submitted a detailed response to the investigation committee on September 14.

The petition read that the inclusion of SECP Additional Joint Director Information Technology (IT), Haroon-ul-Rasheed was made in violation of the law and the probe report was against facts and completely based on assumptions.

He also sought the high court to nullify the investigation committee and the issuance of a show-cause notice to him in light of the probe report.

Chief Justice of Islamabad High Court (CJ-IHC) Justice Athar Minallah formed a bench to hear the petition filed by Arsalan Zafar. The IHC chief justice will conduct the hearing of the petition by himself on Saturday (tomorrow).

On September 23, the Securities Exchange Commission of Pakistan (SECP) had issued show-cause notices to its senior officers including additional and joint directors in connection with an investigation into data leak.

The show-cause notices had been served to Additional Director Market Surveillance Arsalan Zafar, Joint Director Information Technology (IT) Muhammad Sohail, Deputy Director IT Hammad Ahmed, Assistant Joint Director Companies Registration Sadiq Shah, Assistant Joint Director Companies Registration Adil Ali, and Jamal Zaidi.

A total of 10 SECP officers had reportedly been served show-cause notices in order to probe the sensitive data leak.