RegAlertRule · BSEC · 7 Mar 2010
Directive on Stock Broker Margin for Mutual Fund Extended to 15% of Latest Disclosed NAV
The Securities and Exchange Commission amends the margin limit for stock brokers of the Dhaka Stock Exchange Limited and Chittagong Stock Exchange Limited, raising it from 7.5% to 15% of the latest disclosed net asset value. This change applies to mutual fund transactions under section 20A of the Securities and Exchange Ordinance, 1969. The revised limit becomes effective on March 8, 2010.
No. SEC/CMRRCD/2009-193/25 March 07, 2010
DIRECTIVE
In reference to the Commission’s Directive No. SEC/CMRRCD/2001-43/05 dated December 17, 2009, the Securities and Exchange Commission hereby further directs the stock brokers of Dhaka Stock Exchange Limited and Chittagong Stock Exchange Limited under section 20A of the Securities and Exchange Ordinance, 1969 (XVII of 1969) that the limit of 7.5% that was fixed earlier shall now be read as 15% (fifteen percent). This shall be effective from 8th March, 2010. By order of the Securities and Exchange Commission
Md. Ziaul Haque Khondker
Chairman.
Distribution:
Dhaka Stock Exchange Limited
Chittagong Stock Exchange Ltd.
Copy to:
- All Department Heads, SEC
- Chairman’s Office, SEC
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The links and the sentences they come from (1)
- Amends
“In reference to the Commission’s Directive No. SEC/CMRRCD/2001-43/05 dated December 17, 2009... the limit of 7.5% that was fixed earlier shall now be read as 15%”
Timeline
This document amends: Directive prohibiting margin loans for mutual fund units trading above NAV premium
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