Dhaka, Bangladesh (BBN)- The Securities and Exchange Commission (SEC) has withdrawn its month-long trading suspension on five brokerage houses which were blamed for aggressive selling.
The brokerage houses are IIDFC Securities Limited, PFI Securities Limited, Alliance Securities Limited, and the merchant branches of Al Arafah Bank and Dhaka Bank.
The Commission has decided to withdraw the trading suspension on these stockbrokers considering the current market situation and investors’ interest, Saifur Rahman, a spokesman and executive director of the SEC told reporters after an emergency meeting.
However, the probe activities against the houses by the SEC will continue.
On Jan 20, the SEC imposed a ban on the six brokerage houses, blaming them for aggressive sales causing the market plunge on the day.
Later, the NCC Bank’s merchant branches were allowed to resume their operations but the trading suspension on the five others remained in force.
BBN/SSR/AD-07Feb11-11:53 pm (BST)
