Bangladesh Securities and Exchange Commission (BSEC) will probe a brokerage house named Vanguard Shares and Securities Limited. There are allegations of embezzlement of client funds and unlicensed trading.
Three officials from three concerned organizations have been appointed to solve the issue. They are BSEC Additional Director, Md Kawsar Ali; Senior System Engineer of Central Depository Bangladesh, Md Monirul Islam; and CSE official Ehsan Habib.
They are instructed to submit an investigation report to the commission within 30 working days.
Prior, Banco Securities, Crest Securities, Dawn securities, Trendset Securities were also accused of embezzling investors’ funds, trading unethically, providing an illegal advantage to directors etc.
Source: The Business Standard