RegAlert2008-08-14
Added · Updated
Amendment to the Securities and Exchange Commission (Stock Dealer, Stock Broker & Authorized Representatives) Rules-2000
The Securities and Exchange Commission amended Rules 7 and 8(4) of the 2000 Rules to establish specific validity periods for registration certificates: one year for stock dealers and stock brokers, and five years for authorized representatives. The amendment mandates that upon timely renewal applications, the Commission extends the certificate validity for the respective periods of one year or five years depending on the entity type. These changes apply to stock dealers, stock brokers, and authorized representatives regulated under the Securities and Exchange Commission Act, 1993.
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NOTIFICATION
Date: 14 August 2008
No.-SECI/CMAR/CDD/2001-002/74/Admin/01/35: Under the powers conferred by Section 24 of the Securities and Exchange Commission Act, 1993 (Act No. 15 of 1993), the Securities and Exchange Commission, after prior publication, hereby amends the Securities and Exchange Commission (Stock Dealer, Stock Broker & Authorized Representatives) Rules, 2000, as follows:
- Rule 7 of the Securities and Exchange Commission (Stock Dealer, Stock Broker & Authorized Representatives) Rules, 2000, shall be substituted by the following, namely:
"7. Validity of Registration Certificate.- The validity of the registration certificate issued under Rule 5 shall be one year from the date of issuance in the case of a stock dealer or stock broker, and five years from the date of issuance in the case of an authorized representative."
- Sub-rule (4) of Rule 8 of the Securities and Exchange Commission (Stock Dealer, Stock Broker & Authorized Representatives) Rules, 2000, shall be substituted by the following, namely:
"(4) If the application for renewal is submitted in accordance with these Rules, the Commission shall renew the validity of the registration certificate in the relevant column for the next one year in the case of a stock dealer or stock broker, and for the next five years in the case of an authorized representative."
For Securities and Exchange Commission
Faruk Ahmed Siddique
Chairman.
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Source: Bangladesh Securities and Exchange Commission — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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