Bangladesh, Aug. 17 -- The securities regulator has fined Haji Ahmad Brothers Securities Tk 1 million for breaching securities rules by creating deficits in the clients' funds.

Advertisement The penalty was imposed after completion of hearings in May this year, based on investigation reports submitted by the Dhaka Stock Exchange (DSE), according to an order issued by the Bangladesh Securities and Exchange Commission (BSEC) on August 10.

BSEC Executive Director and spokesperson Md Abul Kalam told the FE that a deficit in consolidated customers' account (CCA) is considered a serious regulatory violation.

"The regulatory action has been taken to protect investors, strengthen market discipline and penalise offenders involved in irregulari...