Suspension on NCC Bank's brokerage house lifted

Posted by BankInfo on Wed, Jan 26 2011 03:57 pm

The Securities and Exchange Commission has withdrawn the trade suspension on NCC Bank.

According to a message posted on the web of the Dhaka Stock Exchange (DSE), the capital market regulator on Wednesday decided to lift the 30-day suspension order on the activities of its merchant banking section.

On Jan 20, the SEC halted the activities of six brokerage houses, including that of the NCC, for one month as they passed aggressive sales orders, resulting in 600-point fall in the key market index of the DSE on the day.

The SEC has also formed a probe committee to investigate the actions of the six brokerage houses about the aggressive selling on Jan 20.

The other brokerage houses are PFI Securities Limited, Alliance Securities & Management Limited, IIDFC Securities Limited, and merchant banks of Al-Arafah Islami Bank Limited and Dhaka Bank Limited.

News: The Independent/ Bangladesh/ jan-26-2011

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