Mercantile Bank director fined Tk 4 lakh

Bangladesh Securities and Exchange Commission yesterday slapped a fine of Tk 4 lakh on AKM Shaheed Reza, a sponsor and director of Mercantile Bank, for noncompliance with securities laws in connection with buying of shares.

Reza bought shares of Mercantile Bank without any declaration, which is a violation of securities laws, said the regulator in a statement posted on the Dhaka Stock Exchange website yesterday.