Regulators’ zero-tolerance approach towards stockbrokers misusing clients’ idle cash has led to a significant reduction in the deficit of the brokerage industry’s consolidated customer accounts (CCA). The deficit has dropped below Tk48 crore from over Tk500 crore reported in 2022. Only nine out of the Dhaka Stock Exchange (DSE) brokers now have deficits in their CCAs, down from 87 brokers. The DSE’s enhanced monitoring and supervision played a crucial role in this achievement, following instances of client money embezzlement. The DSE is actively collaborating with the remaining brokers to eliminate their deficits entirely. Maintaining separate CCAs is mandatory for stockbrokers to ensure proper handling of clients’ funds. The penalties imposed on brokers for CCA deficits have contributed to the reduction.
Brokerage Customer Account Deficit Shrinks to Tk48 Crore
Industry: Financial, Stock Brokerage, Stock Market
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