2024-09-22 02:31:29
Senior Correspondent || risingbd.com
Published: 12:03, 19 September 2024
The regulatory body Bangladesh Securities and Exchange Commission (BSEC) will withdraw the penalty imposed on the brokerage house Dhanmondi Securities Limited, a member of Punjibazar.
The BSEC has decided to waive the penalty after the consolidated customers make up the shortfall in their accounts and give an undertaking that they will not violate securities laws in the future.
This decision was taken at the 921st commission meeting on Wednesday (September 18) under the chairmanship of Bangladesh Securities and Exchange Commission (BSEC) Chairman Khandkar Rashed Maqsood. After the meeting, BSEC Director and Spokesperson Farhana Farooqui signed this information.
According to the notification, the BSEC rejected the application of Dhanmondi Securities Limited for the extension of time to meet the shortfall in consolidated customers’ accounts. At the same time all conditions mentioned in the Commission’s Instruction No. BSEC/SRI/CCA/DSE/2021/212 issued on 22 March 2022 are reimposed.
In addition, BSEC directed Central Depository Bangladesh Limited to send a letter to Bangladesh Financial Intelligence Unit (BFIU) to stop withdrawal of all bank accounts of directors, managing directors or CEOs of the institution and block all BO accounts of the said persons. The regulatory agency sent a request letter to the special branch of the police to ban the departure of the board of directors, managing director/CEO of the said stockbroker company.
However, the BSEC will lift the penalties on the firm after it clears the deficiencies in the consolidated customers’ accounts and gives an undertaking that it will not violate securities laws in the future.
On the other hand, the deficit of Dhanmondi Securities Limited on August 21, 2024 was 7 crore 74 lakh 08 thousand 72 taka. However, after the inspection of the monitoring and compliance department of DSE on September 15, it is seen that the company has filled the deficit of the consolidated customers’ account.
NT/Tipu