BSEC halts trading via Shah Mohammad Sagir & Co

A brokerage house of Dhaka Stock Exchange (DSE) has been suspended from carrying out trading by the Bangladesh Securities and Exchange Commission (BSEC) for its failure to settle transactions twice in a month.

The regulator took the decision against Shah Mohammad Sagir & Co Ltd at a meeting on Sunday.

However, investors who trade through the broker will be allowed to carry out transactions via a link account of other brokerage houses.

In case of trading via the link account, the investors will have to communicate with Central Depository Bangladesh Ltd or the DSE.

In a press release, the BSEC said the stock broker faces a fund deficit of Tk 1.98 crore in its consolidated customer account. Moreover, six beneficiary account holders have complained against the brokerage house on multiple issues. The regulator has formed an inspection team to look into the issues.

The team has been given two weeks to submit the report.