BSEC fined Tk.5.00 lac to Shymol Equity Management Ltd.

BSEC has decided to fine Tk.5.00 (five) lac to Shymol Equity Management Ltd. for breaking the rules and regulations of securities laws. Commission in its 482th meeting has taken the decision.

The notable complains against Shymol Equity are:

1. Receive more than Tk.5.00 lac from the customers at a time.
2. Giving Margin facility to customers without having Margin Agreement.
3. Providing margin loan facility to Managing Director & Directors.
4. Depositing customers' money to MD's personal account and not showing them to company's financial statement, etc.