Dhaka, Bangladesh (BBN)- The Securities and Exchange Commission (SEC) has suspended operations of six brokerage houses for the next 30 days after the firms’ sale orders on Thursday were blamed for triggering five minutes of mayhem at the Dhaka Stock Exchange.
The firms included securities arms of Dhaka Bank, NCC Bank and Al Arafah Islami Bank and three brokerages, namely, PFI Securities, Alliance Securities and Management and IIDFC Securities.
“We’ve analyzed all of Thursday’s trade data and we found that huge sales orders of the six brokerages led to the collapse,” SEC member Yasin Ali told reporters on Thursday.
Share trading will be suspended on Sunday and the next trading day will be fixed after tripartite talks between the regulator, the stock exchanges and the government officials, he added.
BBN/SI/AD-21Jan11-1:55 am (BST)
