RegAlert

Rule · BSEC · 10 Oct 2010

Amendment to Stock Broker, Stock Dealer and Authorized Representative Rules, 2000

securities
governance

The Securities and Exchange Commission adds Rule 5A to the Stock Broker, Stock Dealer and Authorized Representative Rules, 2000, prohibiting the registration of any company or incorporated entity as a stock dealer or stock broker if more than 50% of its board of directors are also members of the board of directors of its subsidiary companies or establishments, or are associated with its promoters or promoter companies. Existing stock dealers and stock brokers are required to comply with this new requirement within one year from the date of gazette publication.

BangladeshBangladesh Securities and Exchange Commission

NOTIFICATION
October 10, 2010
No.- SECI/CMMRRCDI/2001-002/66/Admin-------------Securities and Exchange Commission,

Under the powers conferred by Section 24(1) of the Securities and Exchange Commission Act, 1993 (Act No. 15 of 1993), and after prior publication, the Securities and Exchange Commission has made the following amendments to the Securities and Exchange Commission (Stock-Dealer, Stock-Broker and Authorized Representative) Rules, 2000, namely:

In the aforementioned Rules,-

  1. After Rule 5, the following new Rule 5A shall be added, namely:

"5A. Grounds for rejection of application due to composition of Board of Directors.- The application of any company or incorporated entity applying to the Commission for a Stock-Dealer or Stock-Broker Registration Certificate shall be rejected if more than 50% of the members of its Board of Directors are also members of the Board of Directors of any of its subsidiary companies or establishments, or are associated with its promoters or promoter companies:

Provided that, existing stock dealers and stock brokers shall comply with this within one year from the date of gazette publication."

By order of the Securities and Exchange Commission

Md. Ziaul Haque Khondakar
Chairman.

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Act No. 15 of 1993Not in RegAlertAct No. 15 of 1993 — Not in RegAlertSecurities and Exchange Commission(Stock-Dealer, Stock-Broker and A…Not in RegAlertSecurities and Exchange Commission (Stock-Dealer, Stock-Broker and Authorized Representative) Rules, 2000 — Not in RegAlertAmendment to Stock Broker,Stock Dealer and Authorized R…2010-10-10 · this documentAmendment to Stock Broker, Stock Dealer and Authorized Representative Rules, 2000 (2010-10-10)
amendssupersedesissued underrefers todashed card: not in RegAlert (or proposed)arrows run from the older text to the one that changes it
The links and the sentences they come from (2)
Amends
  • Securities and Exchange Commission (Stock-Dealer, Stock-Broker and Authorized Representative) Rules, 2000Not in RegAlert

    “the Securities and Exchange Commission has made the following amendments to the Securities and Exchange Commission (Stock-Dealer, Stock-Broker and Authorized Representative) Rules, 2000”

Issued under
  • Act No. 15 of 1993Not in RegAlert

    “Under the powers conferred by Section 24(1) of the Securities and Exchange Commission Act, 1993 (Act No. 15 of 1993)”

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