SEC forms probe body to dig into dubious sale of placement share

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FE Report
The Securities and Exchange Commission (SEC) formed an inquiry committee Monday to look into the activities of those persons or organisations, who had been involved in 'unethical activities' in the name of private placement.
The committee-forming ensued following the detection of two persons, who were detained Thursday for allegedly selling placement shares of about 15 companies.
SEC said that the committee would submit its report by 31 August in the year.
The three-member committee is headed by SEC executive director ATM Tariquzzaman with the two other members being director Hasan Mahmud and assistant director Jahirul Haq.
When asked, ATM Tariquzzaman refused to disclose anything as the investigation was going on.
The SEC investigation team and RAB-3 detained Shafiul Alam Nabi alias Nabiullah Nabi and Sattar-uz-Zaman Thursday at the city's Green Bangla Group office, where they were dealing with about 100 persons.
These detainees sold the placement shares of 15 entities, either listed or forthcoming IPOs, or those from non-listed companies.