RegAlert

Rule · BSEC · 12 Mar 2012

Amendment to the Securities and Exchange Commission (Stock-dealer, Stock-broker and Authorized Representative) Rules, 2000 and the Securities and Exchange Commission (Merchant Banker and Portfolio Manager) Rules, 1996

securities

The Securities and Exchange Commission amends Rule 5C of the 2000 Rules and Rule 6C of the 1996 Rules to mandate the rejection of registration applications from companies where more than 50% of their directors are also directors of their holding company. This requirement applies to applicants for stock-dealer, stock-broker, authorized representative, merchant banker, and portfolio manager registrations.

BangladeshBangladesh Securities and Exchange Commission

NOTIFICATION
March 11, 2012
No.- SECMRRCDI/2001-002/124/Administration/------------: Securities and Exchange Commission, Under the powers conferred by sub-section (1) of Section 24 of the Securities and Exchange Commission Act, 1993 (Act No. 15 of 1993), and after previous publication, the Securities and Exchange Commission (Stock-dealer, Stock-broker and Authorized Representative) Rules, 2000 are hereby amended as follows:

In the aforementioned Rules,
Rule 5C shall be substituted by the following, namely:
"5C. Grounds for rejection of application due to Board of Directors composition.- The application of any company applying to the Commission for a Stock-dealer or Stock-broker registration certificate shall be rejected if more than 50% of its Board of Directors members are also members of the Board of Directors of its holding company."

By order of the
Securities and Exchange Commission

Professor Dr. M. Khairul Hossain
Chairman.

NOTIFICATION
March 11, 2012
No.- SECMRRCDI/2001-50/125/Administration/------------: Securities and Exchange Commission, Under the powers conferred by sub-section (1) of Section 24 of the Securities and Exchange Commission Act, 1993 (Act No. 15 of 1993), and after previous publication, the Securities and Exchange Commission (Merchant Banker and Portfolio Manager) Rules, 1996 are hereby amended as follows:

In the aforementioned Rules,
Rule 6C shall be substituted by the following, namely:
"6C. Grounds for rejection of application due to Board of Directors composition.- The application of any company applying to the Commission for a Merchant Banker and Portfolio Manager registration certificate shall be rejected if more than 50% of its Board of Directors members are also members of the Board of Directors of its holding company."

By order of the
Securities and Exchange Commission

Professor Dr. M. Khairul Hossain
Chairman.

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Act No. 15 of 1993Not in RegAlertAct No. 15 of 1993 — Not in RegAlertSecurities and Exchange Commission(Merchant Banker and Portfolio Ma…Not in RegAlertSecurities and Exchange Commission (Merchant Banker and Portfolio Manager) Rules, 1996 — 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 the Securitiesand Exchange Commission (Stoc…2012-03-12 · this documentAmendment to the Securities and Exchange Commission (Stock-dealer, Stock-broker and Authorized Representative) Rules, 2000 and the Securities and Exchange Commission (Merchant Banker and Portfolio Manager) Rules, 1996 (2012-03-12)
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 (3)
Amends
  • Securities and Exchange Commission (Merchant Banker and Portfolio Manager) Rules, 1996Not in RegAlert

    “the Securities and Exchange Commission (Merchant Banker and Portfolio Manager) Rules, 1996 are hereby amended”

  • Securities and Exchange Commission (Stock-dealer, Stock-broker and Authorized Representative) Rules, 2000Not in RegAlert

    “the Securities and Exchange Commission (Stock-dealer, Stock-broker and Authorized Representative) Rules, 2000 are hereby amended”

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

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

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