Regulator fines stockbrokers
The Bangladesh Securities and Exchange Commission (BSEC) fined 15 stockbrokers Tk 1 lakh each for breaching securities rules while trading.
The financial penalties were imposed at a meeting of the stockmarket regulator on Tuesday.
The firms -- Be Rich, Mona Financial Consultancy and Securities, Mirpur Securities and Western Securities Investment Management -- violated securities rules in trading of Safko Spinning Mills' shares.
PHP Stock and Securities was fined for violating securities rules in trading of International Leasing and Financial Services' shares.
Sylhet Metro City Securities, Al-Muntaha Trading Co, HAC Securities and SIBL Securities broached security rules by short-selling Beach Hatchery's shares.
Sinha Securities and Shaymol Equity Management were fined for providing share credit against Quasem Drycells shares, which was a non-marginable
security.
Salta Capital, Sinha Securities, M Securities and ICB Securities Trading Company violated securities rules in trading of Legacy Footwear and Bangladesh Autocars' shares.
The stockbrokers also provided share credit against non-marginable shares.
At Tuesday's meeting, the regulator warned Abdul Khair, Golam Mostafa and Selim Soyal for violating securities rules in trading of GQ Ball Pen shares.
The regulator warned Mahbubur Rahman and Razzakul Haider Bhuiyan for violating securities rules in trading of Paramount Insurance Company shares.
The BSEC also fined two other stockbrokers -- Global Securities and Oshadhi Securities -- Tk 2 lakh each for inconsistencies in their clients' ledger books.
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