Bangladesh, Oct. 12 -- The stock market regulator has fined three members of a family Tk 7.38 million combined for manipulating the share price of Trust Islami Life Insurance through coordinated trading.

The Bangladesh Securities and Exchange Commission (BSEC) fined Md Abu Taher Shikder, identified as the main manipulator, Tk 5.33 million. His wife, Umma Salma Nipa, was fined Tk 0.5 million, while his brother-in-law, SM Shahed Shakil, was fined Tk 1.55 million for violating securities rules.

In an enforcement order issued on October 5, the BSEC directed the three individuals to pay their respective fines within 30 working days. Failure to comply may result in further legal action under securities laws.

The stock market watchdog impose...