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SEC penalized Bangladesh Autocars, T Mashfu & SPM

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November 3, 2000 

Dhaka-- (UNB) – The Securities and Exchange Commission has penalized Bangladesh Autocars Limited fining Tk 100,000 for the company’s failure to furnish its half-yearly balance sheet, a profit-and-loss account and cash-flow statement.

Under the stringent punitive action taken by the stockmarket watchdog, the company will have to further pay Tk 10,000 per day for failure in payment of the penalty.

The capital market regulators also cancelled the stock dealers’ registration certificates issued to DSE members T. Mashfu & Co. and Securities Promotion and Management Ltd on valid grounds.

Meanwhile, the SEC approved the Chittagong Stock Exchange (Board and Administration) Regulations 2000 and requested the country’s second bourse to adopt and publish the regulations in the official gazette within 30 November.

It also requested Dhaka Stock Exchange again to agree to adopt the Dhaka Stock Exchange (Council and Administration) Regulations 2000 (Proposed) within seven days.