Dhaka, Bangladesh (BBN) – The Securities and Exchange Commission (SEC) has fined NBL Securities BDT 1.0 million for providing loans to an investor beyond the permissible limit.
NBL Securities provided credit to an investor, Gias Uddin, at a highest 1:9 ratio and lowest 1:3 during 2008-09, the SEC said. But the credit limit was 1:2 at the time, meaning if an individual has shares worth BDT 1.0, he will get BDT 2.0 in loans.
The SEC also fined Eastern Cables BDT 100000 for failing to submit its latest yearly audited financial report to the commission.
The SEC also fined each director of Maq Enterprise and Metalex Corporation BDT 100000 for failing to submit their latest yearly audited financial report to the commission.
BBN/SSR/AD-05June12-12:20 pm (BST)
