To safeguard the interests of the stock market and the general investing public, the Bangladesh Securities and Exchange Commission (BSEC) has initiated an investigation into NRB Bank Securities, a participant in the Dhaka Stock Exchange.

In the final week of July, the commission dispatched an official letter to the relevant parties concerning this inquiry.

A committee consisting of three members has been established for this investigation, which includes a deputy director from BSEC, an assistant director, and a manager from the Dhaka Stock Exchange. This committee has been tasked with completing the investigation within 60 working days and providing a report to the commission.

The investigation will focus on allegations of illegal transactions, the use of undisclosed funds, and dealings with related parties.

Additionally, it will assess whether there were any violations of securities law during the changes in shareholders or board appointments. The committee will also look into whether Chairman Badiuzzaman or any other board member participated in illegal transactions or engaged in market manipulation through insider information.

Furthermore, it will review whether the corporate governance code and other applicable regulations were adhered to properly.

A BSEC official, who requested to remain anonymous, indicated that the committee was established following initial complaints and preliminary investigations. The commission will determine the next steps after the report is submitted.