The Bangladesh Securities and Exchange Commission has suspended all types of trades and transfers of securities of any beneficiary owner's account of Chowdhury Nafeez Sarafat, chairman of Race Asset Management.

The regulator also froze the management company's Managing Director Hasan Imam's BO account. 

The regulator instructed the account to freeze today through an order.  

The order mentioned that an enquiry committee did a spot visit to the office of Multi Securities and Services on August 21, but officials of the stock broker refused to assist the committee.

As Race Asset is owned by Multi Securities, the BSEC decided to freeze the BO accounts of the asset manager's chairman and managing director.

Also, the regulator froze the BO account of Jalal Ekramul Kabir, who is the representative of Multi Securities.

In the order, the BSEC said payment of dividends due against the ownership shares of the stock exchanges by Multi Securities shall be suspended till further notice.