Brokerage houses at both Dhaka and Chittagong Stock Exchanges are breaking all rules so that they gain benefit illegally.

Modern Securities Limited, a member of the Dhaka Stock Exchange (DSE), has been involved in various irregularities without heeding the Securities Act. The company also has shortcomings as an integrated customer. In other words, the amount of money that is supposed to be as an integrated customer, is not the amount of money. Although the DSE verbally gave the company two months to fill the gap, they did not heed it.

The Bangladesh Securities and Exchange Commission (BSEC) has fined Modern Securities Tk 5 lakh for violating the law. The fine was imposed at the 638th commission meeting on Thursday. According to BSEC sources, the deficit as an integrated customer in Modern Securities, opening of BO account in the name of authorized representative of its organization, providing margin facility to the officers, giving margin loan in cash account, making irregularities by paying money from BO account even though there is no balance. For this reason, the house has been fined Tk 5 lakh.

The Bangladesh Securities and Exchange Commission (BSEC) has fined the broker house Tk 1 lakh for violating various securities laws by MAH Securities, a member of the Dhaka Stock Exchange (DSE). The fine was imposed at the 638th commission meeting on Thursday.

According to BSEC sources, MAH Securities has not properly maintained the list of customers in their back office. In addition, two BO accounts called MAH Securities in both the Broker and Dealer Wing, miscalculation of monthly net capital report, management of BO account in the name of authorized representative, provision of loan facility to managing director and family members of employees, higher margin than customer ratio. Violated the law.

The Bangladesh Securities and Exchange Commission (BSEC) has fined Silnet Securities Tk 2 lakh for various irregularities including deficit as a customer. The fine was imposed at the 638th commission meeting on Thursday. According to a BSEC press release, Silnet Securities has violated the securities law by providing deficits as an integrated customer, providing margin benefits to its executives, providing margin benefits on Z category shares and lending margin on new shares.