Securities and Exchange Commission

Enforcement Department


Following enforcement actions were taken by the Commission during May, 2003: 

Sl. No.

Date

Nature of default/Appeal

Commissionís decision

01

12/05/2003

Non payment of clientís money and non delivery of share by Dhaka Stock Exchange dealer Syed Tawfiq Hossain Ali and Company (DSE Member No. 49)

 

Directive issued under section 20A of the Securities and Exchange Ordinance, 1969 to Dhaka Stock Exchange Ltd. to freeze membership.

 

02

24/05/03

Violation of Commissionís Notification No. SEC/SRMI/2000-953/1950 dated 24 October 2000 and gezetted on 07/11/2000 and Notification No. GmBwm/ GmAviGgAvBwW/2000-985/2248/c÷-02/1 ZvwiL 19 wWám§^i 2000Bs gezetted on 25/02/2001 (non-disclosure of price sensitive information) by Padma Cement Ltd.

 

Letter issued with warning to comply with all securities laws in future.

03.

24/05/03

Violation of rule 11 of the Securities and Exchange Commission (Stock Dealer, Stock Broker & Authorized Representative) Rule, 2000 (violation of code of conduct) by Dhaka Stock Exchange dealer Maitrayee Biswas & Co. (DSE Member No. 14)

 

Letter issued with warning to comply with all securities laws in future.

04.

24/05/03

Complaints from the customer for non delivery of shares and non payment of money by Dhaka Stock Exchange dealer Syed Tawfiq Hossain Ali & Co. (DSE Member No. 49).

Directive issued to Syed Tawfiq Hossain Ali & Co. (DSE Member No. 49) under section 20A of the Securities and Exchange Ordinance, 1969 to deliver the shares and to make due payments within 5 June 2003 and intimate the Commission in writing with proof by 7 June 2003 that above mentioned directive is complied with.