SEC fines 12 directors of One Bank
FE Report | Tuesday, 26 August 2008
The Securities and Exchange Commission (SEC) has slapped fine of Tk 1.2 million on 12 directors of One Bank Limited for failing to submit annual account reports within stipulated time-frame.
The fined money will have to be deposited to the securities regulator by September 4 next in line with the securities rules, said an official of the commission on Monday.
The SEC fined 12 directors of the bank Tk 0.1 million each.
Farhad Ahmed, executive director of the SEC said, the bank, however, has already submitted the reports but the company failed to comply within the stipulated time-frame.
The deadline for submitting annual account reports expired on May 11. Later, the commission issued hearing notice to the bank on June 8.
The directors of the One Bank who were fined by the SEC are chairman Sayeed Hossain Chowdhury, first vice chairman Johirullah, second vice chairman Hefazatur Rahman, directors Ashok Das Gupta, Farzana Chowdhury, MH Chowdhury, Kazi Rokanuddin Ahmed, ASM Shahidullah Khan, Azmalul Hossain QC, Khandkar Sirajuddin Ahmed, Shawakat Jaman and managing director Farman R Chowdhury.
The fined money will have to be deposited to the securities regulator by September 4 next in line with the securities rules, said an official of the commission on Monday.
The SEC fined 12 directors of the bank Tk 0.1 million each.
Farhad Ahmed, executive director of the SEC said, the bank, however, has already submitted the reports but the company failed to comply within the stipulated time-frame.
The deadline for submitting annual account reports expired on May 11. Later, the commission issued hearing notice to the bank on June 8.
The directors of the One Bank who were fined by the SEC are chairman Sayeed Hossain Chowdhury, first vice chairman Johirullah, second vice chairman Hefazatur Rahman, directors Ashok Das Gupta, Farzana Chowdhury, MH Chowdhury, Kazi Rokanuddin Ahmed, ASM Shahidullah Khan, Azmalul Hossain QC, Khandkar Sirajuddin Ahmed, Shawakat Jaman and managing director Farman R Chowdhury.