The Securities and Exchange Commission of Pakistan said on Friday has been given the authority to conduct raids, confiscate records.

According to an official notification, the SECP officials will be authorised to enter any building or office and confiscate documents, laptop, mobile phones, and other things.

The development came as the federal cabinet has approved the SECP Seize and Search Rules 2019.

Earlier, Prime Minister Imran Khan said that the government had given ample opportunity to declare their assets in the Assets Declaration Scheme - now it would take action without any bias.