The Bangladesh Securities and Exchange Commission (BSEC) may suspend the license of the two brokerage houses due to their misuse of the investors’ money.
According to a press release issued by the commission today, M-Securities Ltd, a brokerage house of the Dhaka Stock Exchange (DSE), has kept a deficit of Tk 7.43 crore in its consolidated customers’ accounts.
The BSEC earlier ordered the brokerage house to refill the deficit within a certain period but the stock broker has not been refill yet, although the deadline for refilling the deficit has been extended two times.
On this ground, the BSEC has ordered the enforcement department to take a decision to cancel or postpone the license of the stock broker considering the rules and regulations, said the press release.
Another stock broker of Chittagong Stock Exchange (CSE), first lead securities ltd, also kept the deficit in its consolidated customers’ accounts for a long time.
This stock brokerage house has not paid the money despite a several time orders from the BSEC.
Recently, the CSE has ordered the broker to refill the deficit within 31 July of 2019.
If it fails to refill within the time then the BSEC will cancel or postpone its license too, the press release added.