RegAlert
2009-05-27

Added · Updated

Directive on branch opening for stock broker

The Securities and Exchange Commission amends Directive No. SEC/CMRRCD/2002-90/34 to allow stock brokers to open up to three branch offices for trading activities. Opening additional branches beyond the initial three requires Tk.50 lac in additional paid-up capital per branch, with a maximum limit of 15 branches. The net worth of the broker must be fifty percent of the paid-up capital. This directive has immediate effect and applies to the Dhaka Stock Exchange Ltd and Chittagang Stock Exchange Limited and their stock brokers.

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No. SEC/CMRRCD/2008-187/128 Dated: May 27, 2009 DIRECTIVE In exercise of power conferred by section 20A of the Securities and Exchange Ordinance, 1969 (XVII of 1969), the Securities and Exchange Commission hereby directs the Dhaka Stock Exchange Ltd and Chittagong Stock Exchange Limited and their stock brokers to comply with the following, namely:
Sub-clause (b) of clause 2 of the Directive No. SEC/CMRRCD/2002-90/34 Dated: July 29, 2008 shall be replaced by the following new sub- clause (b), namely:- “(b) The stock broker will be allowed to open upto 3 (three) branch offices to operate trading activities. For opening each branch beyond the said 3(three) branch offices, Tk.50 lac as additional paid-up capital will be required:
Provided that net worth of the broker shall be fifty percent of the paid up capital:
Provided further that a stock broker may open a maximum of 15(fifteen) branch offices.”. This directive shall have immediate effect. By Order of the Securities and Exchange Commission Md. Ziaul Haque Khondker Chairman. Distribution:

  1. Dhaka Stock Exchange Ltd.
  2. Chittagong Stock Exchange Ltd.
    Copy to:
  3. All Departmental Heads, SEC
  4. Chairman’s Office, SEC

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Lineage: In force

Ordinance No. XVII of 1969Ordinance No. XVII of 1969Directive related to opening of…2008Directive related to opening of branch for stock brokers (2008-07-29)Directive on branch openingfor stock broker2009-05-27 · this documentDirective on branch opening for stock broker (2009-05-27)
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This document amends: Directive related to opening of branch for stock brokers

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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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