BSEC imposes restrictions on brokerage firms owing CDBL
Currently, 50 brokerage firms have outstanding dues of around Tk10 crore
The Bangladesh Securities and Exchange Commission (BSEC) imposed various restrictions on the brokerage firms that owe maintenance and other fees to the Central Depository Bangladesh Limited (CDBL).
The commission issued a directive in this regard on Wednesday.
As per the directive, the BSEC will suspend the free limit facilities that any defaulter brokerage firm gets from the stock exchanges, initial public offering (IPO) quota facilities that make them eligible as qualified investors, and the dividends they get as members of the stock exchanges.
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Even the digital booths and/or branch openings of the brokerage firms will be suspended if they fail to comply.
Also, the renewal of depository participant licences of the brokerage firms will be suspended if they fail to clear their dues.
Shuvra Kanti Choudhury, managing director of CDBL said "We have continued our efforts to collect the arrears in various ways. But many brokerage firms are yet to pay their dues."
He said 50 brokerage firms have outstanding dues of around Tk10 crore till now.
Currently, there are 515 depository participants in the CDBL and 20.67 lakh BO accounts active in the stock market.
A brokerage firm charges Tk450 for each BO account as its annual maintenance fee. Of the amount, the government gets Tk200, BSEC Tk50, CDBL Tk100, and the brokerage firm gets Tk100.
