B Mirror Report: The Dhaka Stock Exchange (DSE) has cancelled the certificate of a company that was approved to trade shares in the stock market. The company is called SQ Brokerage House. As per the rules, the company’s registration certificate has been cancelled as it could not start business within the stipulated time even after getting the certificate. As a result, the company will no longer be able to engage in share trading in the stock market. This information about the company has been published on the DSE website.

DSE said that the company no longer has any validity to trade shares in the stock market due to the cancellation of its registration certificate. For this reason, this news has been published as part of the warning to investors not to engage in any share trading activities with this company. At the same time, DSE has asked that if any investor has suffered financial losses by trading with the company, they should contact the stock exchange with the necessary evidence.

According to DSE sources, during the previous Awami League government, SQ Brokerage House took Trading Right Entitlement Certificate or TREC certificate for trading shares in the stock market due to political considerations.

Companies that have obtained TREC certificates in the stock market are known as ‘brokerage houses’. Due to political considerations, the company was granted stock broker and stock dealer certificates by the then capital market regulator Bangladesh Securities and Exchange Commission (BSEC).

Among these, the stock broker certificate is an approval for business related to share trading facilities in the stock market for general investors. And the stock dealer certificate is given for the company’s own investment and business.

According to the rules, the company has to start business within the specified time of obtaining this certificate. But the company could not start business even after several extensions, the DSE said. In this situation, the DSE also urged the company to start business several times.

But in the end, the company could not start business. When the company finally applied for cancellation of the certificate, the DSE canceled the brokerage certificate of the company.

It is known that the company was owned by an Awami League member of parliament elected from Comilla. After the political change in August 2024, the company lost interest in engaging in this business. For this reason, they themselves applied for cancellation of the certificate. On that basis, the certificate was canceled.