Bangladesh, Oct. 26 -- The Bangladesh Securities and Exchange Commission (BSEC) has ordered an investigation into alleged irregularities in the sale of Malek Spinning Mills shares from the beneficiary owner (BO) accounts of five individual investors at a merchant bank.

City Brokerage Limited (CBL) has come under scrutiny as it acted as the panel broker of First Security Islami Capital & Investment Limited (FSICIL), which was involved in executing the disputed share sales.

According to a BSEC order issued on October 18, the investigation was launched in the interest of the capital market and general investors following complaints lodged by the five investors.

The probe will examine the circumstances surrounding the disputed sales and d...