Directive on Stock Broker Branch Opening Limits

No. SEC/CMRRCD/2008-187/188 October 20, 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 the Chittagong Stock Exchange Ltd. and its stock brokers to comply with the following, namely:- The second proviso in the sub-clause (b) of clause 2 of the Directive No. SEC/CMRRCD/2002-90/34 dated July 29, 2008, read with the Directive No. SEC/CMRRCD/2008-187/128 dated May 27, 2009, shall be replaced by the following new proviso:- “Provided further that a stock broker may open a maximum of 15 (fifteen) branch offices. Any office connected to the main office through LAN facility within 1 (one) kilometer of the broker’s main office shall be deemed as extension of the main office.”. This Directive shall supercede the Commission’s instruction in the letters No. SEC/Registration/DSE/2009/105 dated March 09, 2009 and SEC/Registration/CSE/2009/106 dated March 09, 2009 and shall have immediate effect. By Order of the Securities and Exchange Commission Md. Ziaul Haque Khondker Chairman.