The securities regulator has asked a broker of Dhaka Stock Exchange (DSE) to pay the dues of its client within 30 days.
As per the instruction, Ali Securities, a TREC holder of the DSE, will have to pay over Tk 1.46 million to its client Nausher Ahmed (Tamanna).
The Bangladesh Securities and Exchange Commission (BSEC) issued the instruction on Tuesday after holding a meeting at the BSEC office.
According to a probe report of February, 2018 Nausher Ahmed (Tamanna) held 31,100 shares of Aftab Automobiles and Ali Securities sold those shares at a price of Tk 71 each.
After paying Tk 0.7 million, Ali Securities failed to pay remaining Tk 1.46 million to Nausher Ahmed (Tamanna).
The securities regulator has said Syed Tanvir Ahmed, an authorised representative of the Ali Securities, provided false portfolio statement from his office.
The BSEC has also asked its enforcement department to conduct a hearing to know as to why the license of Ali Securities and its authorised representative should not be cancelled if they fail to pay the securities regulator's instruction.
© 2017 - All Rights with The Financial Express