The Bangladesh Securities and Exchange Commission (BSEC) issued warning letters against 24 companies and their top officials in July last for non-compliance of the securities laws.
The securities regulator asked them to ensure compliance of all the securities-related laws in future.
Before issuing the letters, the BSEC sought explanations from the companies as the regulator identified the non-compliances by the companies and the officials.
Later, the enforcement department of the securities regulator conducted the hearing of the accused persons.
Considering the explanations and apologies, the commission disposed off the proceedings by placing on record its dissatisfaction on the defaults/contraventions, the BSEC said in the letters.
The non-compliances of the companies and top officials were, among others, relevant to price sensitive information, buy-sale by sponsor-directors, mandatory gap between board meeting and record date.
The securities regulator issued a warning letter against Aamra networks, its directors, managing director and company secretary for non-compliance with the securities laws in connection with price sensitive information.
It issued another warning letter to Alif Manufacturing Company, its directors, managing director and company secretary as they did not maintain mandatory gap between the board meeting and record date.
The BSEC issued a warning letter to Sajjatuz Jumma, a sponsor of Shahjalal Islami Bank, as he breached earlier the securities laws in connection with the buy-sale declaration.
The regulator issued warning letter to Bank Asia for its non-compliance with the securities law in connection with price sensitive information.
For the same non-compliance, the regulator issued warning letter to Hakkani Pulp & Paper Mills and its directors, managing director and company secretary.
In July 2018, the warning letter was also issued to United Airways (BD), its directors, managing director and company secretary for non-compliance of the securities law in connection with price sensitive information.
The securities regulator also warned AIBL Capital Market Services, one sponsor of Islamic Finance and Investment, Dragon Sweater and Spinning, Dhanmondi Securities, Rose Securities, Royel Green Securities and PFI Securities.
The other companies received the warning letters are Salta Capital, Familytex (BD) and its directors, managing director and company secretary, Far Chemical Industries, S. Alam Cold Rolled Steels, Stylecraft, Keya Cosmetics and Shurwid Industries.
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