Regarding implementation of the Government’s decision on the basis of the special scheme committee’s recommendations for adversely affected small investors (Merchant Bankers’ related)

No. SECMRRCD/2009-193/132 10 July 2012

Directive

Whereas, in order to protect the interests of small investors in the capital market, a Special Scheme Formation Committee consisting of 6 members was formed through Gazette Notification No. 53.014.031.00.00.085.2005(7)-435 dated 27 November 2011 (Annex-1) of the Ministry of Finance, Department of Banks and Financial Institutions, Government of the People's Republic of Bangladesh.

Whereas, in light of the recommendations of the aforementioned Committee and after discussions with all concerned parties, the Government of the People's Republic of Bangladesh has taken decisions for the stability of the capital market and protection of the interests of small investors, which are included in Office Memorandum No. 53.014.031.02.00.002.2012-72 dated 05 March 2012 and Memorandum No. 53.014.031.02.00.002.2012-237 dated 03 July 2012 (Annex-2, 3) of the Ministry of Finance, Department of Banks and Financial Institutions.

Whereas, in continuation of this, the Committee has prepared the final list of adversely affected small investors under the Special Scheme by collecting information from all Merchant Bankers/Stock Brokers/Stock Dealers and analyzing the provided information (CD attached).

Therefore, in order to ensure the stability of the capital market and protect the interests of small investors, in accordance with the decisions taken by the Government, and in compliance with the directives of Office Memorandum No. 53.014.031.02.00.002.2012-72 dated 05 March 2012 and Memorandum No. 53.014.031.02.00.002.2012-237 dated 03 July 2012 of the Ministry of Finance, Department of Banks and Financial Institutions, implementing the decisions based on the aforementioned final list of adversely affected small investors of 28 (twenty-eight) Merchant Banks, under the powers granted in Serial No. 14 of Schedule 36 of the Securities and Exchange Commission (Merchant Bankers and Portfolio Managers) Rules, 1996, instructions are hereby given to the concerned Merchant Banks to submit a compliance report regarding this matter by 14 August 2012. Furthermore, to ensure such compliance, instructions are given to the Bangladesh Merchant Bankers Association to submit a consolidated report regarding this matter to the Commission by 30 August 2012.

By Order of the Securities and Exchange Commission

Professor Dr. M. Khairul Hossain
Chairman.