SEC Quarterly Review JUL-SEP, 1999

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Quarterly Review}

^{Jan-March
2002}

ENFORCEMENT

During January-March 2001 the following brokerage houses, issuer companies and stock exchanges have been penalized or warned, or directives issued to them for reasons appearing against their names:

Brokerage House: Penalty and/or License Suspension

Name of the Brokerage House	Nature of Default	Commission’s Action
Md. Ali Hossain & Co. (DSE Membership No. 13)	Failure to comply with securities related laws.	License suspended for 6 months vide order dated 3^rd January 2002. Suspension order was later withdrawn vide order dated 18^th March 2002 in view of appeal filed and assurance from the concerned member firm that all securities related laws will be complied with in future.
Karnaphuli Securities and Consultants Limited (CSE Membership No. 64)	Failure to comply with provisions of securities laws.	License cancelled earlier. Thereafter appeal rejected.

Brokerage House: Warning etc

Name of the Brokerage House	Nature of Default	Commission’s Action
Mohammadi Securities Ltd. (CSE Membership No. 105)	Failure to comply with securities related laws.	The company was relieved of the charges as mentioned in the show cause notice in connection with the enquiry of J.H.Chemical Industries Ltd.
Mansura Securities Ltd. (DSE Membership No. 137)	Failure to comply with securities related laws.	The company was relieved of the charges as mentioned in the show cause notice in connection with the enquiry of J. H. Chemical Industries Ltd.
Premium Securities Limited (DSE Membership No. 181)	Alleged appointment of Mr. Shawkat Osman Dulal as authorized dealer.	Warning letter issued for compliance of securities laws in future and also to be careful record keeping.

Issuer Company: Warning

Name of the Company	Nature of Default	Commission’s Action
Chic Tex Limited	Non-compliance of securities laws in connection with dividend payment.	Warning letter issued for compliance of securities laws in future.
Mona Food Industry Limited	Non-compliance of securities laws in connection with dividend payment.	Warning letter issued for compliance of securities laws in future.
Al-Arafah Islami Bank Limited	Non-compliance of the Commission’s Notification No. SEC/SRMI/2000-53/1950 dated 07.11.2000	Warning letter issued for compliance of securities laws in future.
Purabi General Insurance Company Limited	Non-compliance of securities laws in connection with dividend payment.	Warning letter issued for compliance of securities laws in future.

Individual/Company :Order/ Directive

Name of the Individual/Company	Nature of Default	Commission’s Action
Sandhani Credit Cooperative Society	Dispute regarding ownership of shares.	Directives issued not to sale/transfer shares without having further direction from the Commission.

Stock Exchanges: Warning

Name of the Exchange	Nature of Default	Commission’s Action
Dhaka Stock Exchange Ltd.	Alleged violation of regulation 36 (A) (3) of the listing regulations of the Dhaka Stock Exchange Limited (DSE) in connection with disclosure of price sensitive information by Chittagong Cement Clinker Grinding Co. Ltd.	The Commission Disposed off the proceedings against the exchange with request to ensure full and effective compliance of listing regulations.
Chittagong Stock Exchange Ltd.	Alleged violation of regulation 36 (A) (3) and 42 of the listing regulations of the Chittagong Stock Exchange Limited (CSE) in connection with disclosure of price sensitive information by Chittagong Cement Clinker Grinding Co. Ltd.	The Commission Disposed off the proceedings against the exchange with request to ensure full and effective compliance of listing regulations.