DSE sues Banco Securities

DSE sues Banco Securities
The Dhaka STOCK MARKET (DSE) has filed a case against Banco Securities on discovering a shortfall of Tk 60 crore in its consolidated customers' account.

Such accounts are meant to hold money which investors provide to a brokerage house to accomplish trade with with the person. Whatever transactions made are likely to add up in the total amount.

The case was filed with Motijheel Police Station on Monday night, confirmed a high DSE official.

Early in the day, the premier bourse suspended Banco's trading activities on deciding after it at a board meeting.

A DSE investigation on the brokerage firm is ongoing.

Preliminary findings were delivered to the Bangladesh Securities and Exchange Commission (BSEC) and the currency markets regulator recommended to suspend the trading and filing a case.

The regulator also asked to see the relevant government authorities to bar top officials of the firm from going abroad.

Previously November 16, 2020, the BSEC barred Banco from subscribing to the original public offering of Robi Axiata on discovering that it had got deals beforehand for trading Robi's shares.

Banco Managing Director Shamiul Islam cannot be reached for comment as his cellphone was found switched off by the time this report was filed yesterday.
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