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BSEC Orders 57 DSE Brokers To Return Tk 4 Billion To Core Business - BIZDATA INSIGHTS

BSEC Orders 57 DSE Brokers to Return Tk 4 Billion to Core Business

Industry: Stock Brokerage, Stock Market

The securities regulator instructed 57 stock brokers and dealers of the Dhaka Stock Exchange to return Tk 4 billion to their core business within three months. The funds had been diverted to real estate, violating the Securities and Exchange Rules 2020. The core business involves trading securities from their own dealer accounts. Most intermediaries used the funds to purchase lands, flats, parking spaces, and provide loans to directors. The BSEC directed the DSE to ensure compliance, emphasizing the funds were meant for core business operations. One violator moved Tk 164 million for investments and loans. Another diverted Tk 334 million to non-listed securities and advances to various entities. The BSEC ordered the DSE to report compliance status within seven working days to protect market interests.

Source for more details:

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