RegAlertRule · BSEC · 28 Dec 2017
Time Extension for provisioning of unrealized loss
The Bangladesh Securities and Exchange Commission extends the deadline for stock dealers, stock brokers, and merchant bankers to complete the maintenance of provisions against unrealized losses in their accounts and portfolios to December 31, 2018. Entities that have not yet completed these provision maintenance activities are required to finalize them within this extended timeframe. Furthermore, these market intermediaries must submit progress reports to the Commission on a quarterly basis.
Bangladesh Securities and Exchange Commission
Securities Commission Building
E-6/C, Agargaon
Sher-e-Bangla Nagar Administrative Area
Dhaka-1207, Bangladesh.
No.-BSEC/CMMRCDI/2009-193/203 December 28, 2017
Directive
In exercise of the powers conferred under Section 20A of the Securities and Exchange Ordinance, 1969, for the development of the capital market and in the interest of investors, the Commission issues the following directive:
The validity of the optional facility regarding the maintenance of provisions against unrealized losses in stock dealer accounts, stock broker margin accounts, and merchant bankers' own and client portfolios, as granted through Commission Directive No. SECI/CMMRCDI/2009-193/196 dated December 28, 2016, is hereby extended until December 31, 2018, subject to the submission of progress reports to the Commission on a quarterly basis.
It is noted that, in light of the aforementioned directive dated December 28, 2016, market intermediaries who have not yet completed the activities related to the maintenance of provisions (Provision) are required to complete such maintenance within the aforementioned time period.
By order of the Bangladesh Securities and Exchange Commission
(Signature)
Dr. M. Khairul Hossain
Chairman
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The links and the sentences they come from (1)
- Amends
- Commission Directive No. SECI/CMMRCDI/2009-193/196 dated December 28, 2016Not in RegAlert
“The validity of the optional facility ... as granted through Commission Directive No. SECI/CMMRCDI/2009-193/196 dated December 28, 2016, is hereby extended until December 31, 2018”
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