SEC Annual Report,2000-2001 

Enforcement Department
    During the period July 2000-June 2001 the following brokerage houses and issuer companies have been penalized or warned for reasons appear against their names:

    A.  Brokerage house:  Penalized 
     

    Name of the Brokerage House
    Nature of allegation
    Commission’s Decision
    Remarks
    Anwar Securities Co. (DSE Membership No. 109) Recording of one client’s purchase in the ledger of another client and submission of fabricated papers to enquiry committee Taka two lacs penalty

    imposed. 

    		 The brokerage house filed appeal for reducing the amount of penalty. Commission has rejected the appeal.
    B.   Brokerage house: Warned
     
    Name of the Brokerage House
    Nature of allegation
    Commission’s Decision
    Remarks
    Legand Capital Management Limited [Former name Explicit Securities Ltd.] (CSE Membership No. 109) Delayed submission of audited financial statements for the year 1999 Taka one lac penalty imposed.  The brokerage house filed appeal for waiving the penalty. Penalty withdrawn but the brokerage house warned for compliance of securities laws in future.
    Associated Capital Securities Limited (CSE Membership No. 63) Delayed submission of audited financial statements for the year 1999  Taka one lac penalty imposed.  The brokerage house filed appeal for waiving the penalty. Penalty withdrawn but the brokerage house warned for compliance of securities laws in future.

    C. Issuer Company: Panalized 
     
     

    Name of the 
    company
    Nature of allegation
    Commission’s Decision
    Remarks
    The Ibn Sina Pharmaceutical Industries Ltd.  Delayed disclosure of price sensitive information  Taka one lac penalty imposed.  The company filed appeal for waiving the penalty. Appeal rejected.
    Name of the Issuer

    company
    Nature of allegation
    Commission’s Decision
    Remarks
    South East Bank Limited Delayed disclosure of price sensitive information Taka three lacs penalty imposed.  appeal for waiving the The company filed penalty. Appeal

    rejected. 
    Sajib Knitwear and Garments Limited  Delayed disclosure of price sensitive information  Taka two lacs penalty imposed.  The company filed appeal for reducing the amount of penalty and to allow forty five days time for depositing the penalty amount. The appeal to reduce the penalty rejected but forty days time for deposition of the penalty amount allowed.

    D. Issuer Company: Warned
     

    Name of the Issuer Company Nature of allegation  Commission’s Decision 
    Rahim Textile Mills Ltd. Delayed submission of half-yearly financial statements for the half year ended on 31st December, 2000 Warning letter issued for compliance of securities laws in future. 
    AB Biscuit Company Ltd.  Delayed submission of half-yearly financial statements for the half year ended on 31st December, 2000 Warning letter issued for compliance of securities laws in future.
    Wonderland Toys Ltd.  Delayed submission of half-yearly financial statements for the half year ended on 31st December, 2000 Warning letter issued for compliance of securities laws in future.
    Paragon Leather and Footwear Industries Ltd.  Delayed submission of half-yearly financial statements for the half year ended on 31st December, 2000 Taka one lac fifty thousand penalty imposed.