Home ›› 27 Sep 2021 ›› Stock
The Bangladesh Securities and Exchange Commission (BSEC) has recently warned 10 companies, including four listed companies, five stockbrokers, and a chartered accountant firm, for non-compliance with the securities laws.
Among them, four companies are listed. They are Golden Son, Ifad Multi Products, Intraco Refueling, and Legacy Footwear Limited.
The five are brokers—Ali Securities, Bluechip Securities, Green Delta Securities, Maria Ahmmed & SM Enterprise, and Stock & Bonds Limited.
Ahmed Zaker & Co is the lone chartered accounting firm that also faced the warning.
The violations were mostly related to price-sensitive information submitted to the stock market regulator by the companies, said a BSEC official.
“The information provided by the companies influenced prices of some stocks, benefitting some people,” he said.
“The companies and individuals are cautioned not to comply with the securities rules. The tough action will be taken against them if they violate the same rules again, “he added.
The securities regulator summoned all directors, managing directors, and company secretaries of the errant companies to appear before the commission to explain the alleged violations.
They separately appeared and offered their apologies, according to the BSEC officials.
The share price manipulation practice by the companies weighs on the confidence of the investors, said an official of the Dhaka Stock Exchange.
