Stock broker licence of Firstlead Securities halted
Bangladesh Securities And Exchange Commission (BSEC) decided to halt the effectiveness of stock broker licence of Firstlead Securities as it did not pay the fine that was imposed due to breaking rules.
The stock market regulator also slapped a penalty of Tk 2 lakh on First Lead Securities Limited for breaking securities rules.
The commission punished the brokerage house following a complaint filed by four investors last February.
Stock trading of Firstlead Securities may close anytime just after issuing an order, said Rejaul Karim, spokesperson of the BSEC.
Now, the regulator decided to halt but it would be effective after the order issue, he said adding the broker did not pay the fine.
After the halt, the brokerage firm wi not be allowed to trade stocks and no any other work which allow it by the license, Karim added.
Apart from the halt, the BSEC decided to order Chittagong Stock Exchange to take action against the broker as per law and inform the regulator within 15 days.
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