FE Report
The Securities and Exchange Commission (SEC) has fined three companies and the directors of four companies for non-compliance of securities related laws, officials said.
The officials of the securities regulator said on Sunday that the penalties against the companies and directors were imposed at a commission meeting.
The three companies which have been fined are Arafat Securities Limited, MAH securities Limited and Padma Printers and Colour Limited.
The directors fined are from Sajib Knit Wear Limited, Mac Enterprise Limited, Fahad Industries Limited and Beach Hatchery Limited.
The fines, however, were slapped after the SEC probes found involvement of these companies and directors in violation of securities laws.
Earlier, the surveillance and corporate finance department of the SEC referred these cases to its enforcement department. Finally, the commission imposed penalties against them.
The directors of Sajib Knit Wear, Mac Enterprise and Fahad Industries were fined Tk 0.1 million each for not submitting the half yearly reports of their companies.
MAH Securities and Arafat Securities have been fined Tk 0.5 million each for violation of securities laws in trading operation.
The other two companies and directors, which have been fined for non-compliance of securities laws, are Beach Hatchery Limited and Padma Printers and Colour Limited.
On May 3 last, the SEC fined two big traders and two companies Tk 66.8 million at the commission meeting after they were found guilty of manipulating share prices by spreading rumours and breaching laws.
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