The regulatory body Bangladesh Securities and Exchange Commission (BSEC) will investigate the overall activities of six brokerage houses in the stock market.
According to BSEC sources, BSEC has formed two separate investigation committees to investigate the activities of the institutions. The formed investigation committees have been instructed to submit their reports within the next 30 working days.
The brokerage houses that will be investigated are Sinha Securities Limited (DSE Track No. 67), ICB Securities Trading Company Limited (DSE Track No. 129), SIBL Securities Limited (DSE Track No. 94), Bangladesh Finance Securities Limited (DSE Track No. 30), IFIC Securities Limited (DSE Track No. 192) and Green Delta Securities Limited (DSE Track No. 59).
The investigation committee will look into various issues including the number of margin accounts of brokerage houses, the number of beneficial owners (BO) accounts with negative equity, why negative equity is increasing and who is responsible for it, the amount of negative equity, funds held against provisions or margin accounts, shortage of provisions, unauthorized transactions in margin accounts and other issues.
The members of the investigation committee formed by Sinha Securities, ICB Securities and SIBL Securities are BSEC Additional Director Umme Salma, Assistant Director Ali Ahsan and Accounts Officer Md. Rabiul Haque.
On the other hand, the members of the investigation committee formed by Bangladesh Finance Securities, IFIC Securities and Green Delta Securities are BSEC Additional Director Mustari Jahan, Assistant Director Mohammad Nuruzzaman and Assistant Director Md. Abdul Baten.
