The Securities and Exchange Commission has fined the directors of One Bank Tk 1 lakh each for their failure to submit an audited financial statement to the capital market regulator by the deadline, an official said yesterday.
The SEC imposed the fine on August 20 and asked the directors to deposit a total of Tk 12 lakh in penalty in 15 days, said SEC Executive Director Farhad Ahmed.
In case of failure to pay the fine to the capital market watchdog in time, the SEC will file a 'certificate case' against the bank, Ahmed said.
In line with the Securities and Exchange Rules 1987, a listed company must submit its yearly audited financial statement to the SEC in time, Farhad Ahmed said.
One Bank had been set to submit the statement for the year to December 31, 2007 to the SEC by May 11, but the bank failed to do so in time.