SEC Quarterly Review January-March Securities and Exchange Commission Bangladesh

Transcription

1 SEC Quarterly Review January-March 2011 Securities and Exchange Commission Bangladesh 1

2 SECURITIES AND EXCHANGE COMMISSION Quarterly Review January-March 2011 A Publication of the SEC Securities and Exchange Commission Jiban Bima Tower (14 th, 15 th, 16 th & 20 th Floor) 10, Dilkusha Commercial Area Dhaka-1000, Bangladesh Phone: , Fax: (88) Website: secbd@bdmail.net 2

3 SECURITIES AND EXCHANGE COMMISSION Quarterly Review January-March 2011 C O N T E N T S TOPIC PAGE 1. Capital Market News Corporate Finance Capital Issue SEC Surveillance Registration Mutual Fund and Special Purpose Vehicle Supervision and Regulation of Markets and Issuer Companies Supervision and Regulation of Intermediaries Central Depository SEC Enforcement Actions Law MIS Research & Development Capital Market Regulatory Reforms and Compliance Market Performance DSE and CSE Scenario Bangladesh Capital Market Summary 51 3

4 CAPITAL MARKET NEWS Securities and Exchange Commission (SEC) Securities and Exchange Commission, the capital market regulator, was established in June 1993 through enactment of the Securities and Exchange Commission Act, The missions of the Commission are: Protecting the interest of investors in securities; Developing the capital and securities markets; and Framing of securities rules concerning above. Major Events & Developments During January- March, 2011 major activities of the Securities and Exchange Commission (SEC) are furnished below: Directive on disclosing the quarterly financial statements in the web site: On March 10, 2011 the Commission issued a directive to the Chittagong Stock Exchange Ltd and the listed companies, the following, namely; the stock exchanges should monitor and ensure the posting of the said detailed quarterly financial statements in the website of the respective listed companies in compliance with the Directive No. SEC/CMRRCD/ /09/Admin/21 dated Januarey 17, It s also mentioned that both the stock exchanges should simultaneously post the aforesaid detailed quarterly Financial statements in their respective website through installation of web link and both the stock exchanges should submit the compliance report to the Commission on quarterly basis about publication of the above. It s also directed that the issuer companies should cooperate with the stock exchanges in that regard. Imposing restriction on Merchant bankers regarding margin loan facilities: The Commission issued a directive on November 21, 2010 imposing restriction that the Merchant bankers should not provide margin loan facilities to their individual clients during the first 15 fifteen trading days of openinig the clients account and depositing clients own fund into such account for trading purpose until further order. Issuing directive on providing credit facilities by the bourses: On December 19, 2010 the Commission issued directive to the bourses that the members of the stock exchanges might extend credit facilities to their approved clients up to 2 two times of clients margin/clients deposit ie credit facilities should be on 1:2 basis under the Margin Rules, 1999 untill further order. 4

5 Investors Education Program: SEC conducts investors education program twice a month throughout the year at SEC premise to create awareness among the general investors about capital market. During January-March, 2011 six Invertors awarness program were organized by SEC, where a total of 260 investors participated in the said programs. Senior SEC officials made presentations on different topics related to capital market in the programs and responded to the queries of the participants. In order to enhance the participation of women investors in capital market, SEC has introduced separate investors education program for women only. Training program for Authorized Representatives: In order to educate and train market participants, the Commission, in association with Dhaka Stock Exchange Ltd and Chittagong Stock Exchange Ltd., arranged training for authorized representatives of the members of Dhaka Stock Exchange Ltd on 10-11,12-13,17-18 January, 2011, 13-14, 20-21, February, March, 2011, 6-7,16-17, 20-21,27-28 March, 2011 at DSE and for authorized representatives of the members of Chittagong Stock Exchange Ltd on 7-8, January, 11-12, March, March, 2011 at CSE Dhaka Office where a total of 900 authorized representatives attended. Senior officials of SEC, DSE and CSE conducted aforesaid programs highlighting securities laws, particularly issuance, trading and settlement of securities transaction, securities analysis and portfolio management etc. CORPORATE FINANCE (CF): CFD s activities for the quarter: January-March, 2011 Sl. No. Particulars Action taken No. of 01. Qualified audit report and/or CFD s observation on the audited financial statements. 02. Time extension for submission of audited financial statements for the year ended on December 31, Time extension for submission of financial statements for the quarter/halfyear ended on December 31, Clearance for re-appointment of existing auditors for the consecutive period exceeding three years. 05. Non-submission of un-audited financial statements for the half-year/quarter ended on December 31, Company Explanation sought from companies. 05 Referred to Enforcement Department 05 for necessary action against the companies as their clarification regarding auditors qualified report and/or Commission s observations were not satisfactory. Referred to SRMIC Department for 01 appropriate action against the company since there was significant doubt about the ability to continue as going concern. Time not extended. 03 Time not extended. 01 Clearance accorded. 07 Companies referred to Enforcement Department since they violated securities law by re-appointing statutory auditors for a consecutive period exceeding three years without the clearance of the Commission. The companies have been referred to Enforcement Department for appropriate action for non-submission

6 of un-audited financial statements for the half-year/quarter ended on December 31, Capital Raising: Private Limited Company: During January-March, 2011 the Commission accorded consent to the following private limited companies to raise capital for the amount stated in the table below: Se rial No. Name of the Company Applied for Consent letter issued on Amount (in Tk.) 1 Advanced Data Networks System Limited Tk. 3,20,00, Tk. 3,20,00, Bengal Meat Processing Industries Limited Tk. 10,00,00, Tk. 10,00,00, Configure Engineers and Construction Co. Limited Tk. 30,00,00, Tk. 30,00,00, Capital Board Mills Ltd. Tk. 5,00,00, Tk. 5,00,00, Venus Jewellers Limited Tk. 15,00,00, Tk. 15,00,00, Holcim Bangladesh Limited Tk. 15,00,00, Tk. 15,00,00, Crstal Industrial Bangladesh Private Limited Tk. 34,00,00, Tk. 34,00,00, Norp Knit Industries Limited Tk. 19,21,82, Tk. 19,21,82, Eaglerise Eletric Electronics BD Limited Tk. 20,01,00, Tk. 20,01,00,

7 10 FARR Ceramics Limited Tk. 4,00,00, Tk. 4,00,00, RAK Holdings Pvt Ltd. Tk. 33,98,11, Tk. 33,98,11, Global Heavy Chemicals Ltd. Tk. 55,00,00, Tk. 55,00,00, Xin Chang Shoes BD Limited Tk. 12,99,00,00, Tk.12,99,00,00, Regent Fabrics Limited Tk. 10,50,00, Tk. 10,50,00, Total Public Limited Company: During January-March, 2011 the Commission accorded consent to the following public limited companies to raise capital for the amount stated in the table below: SL No. Name of the Company Applied for Consent letter issued on Amount in Tk. 1 Jamuna Bank Limited Tk. 2,07,93, Tk. 2,07,93, Express Insurance Ltd. Right Shares of Tk. 13,23,00, Tk. 13,23,00, Fiedility Assets and Securities Limited Tk. 10,00,00, Tk. 10,00,00,

8 4 Aman Spinning Mills Limited Tk. 20,00,00, Tk. 20,00,00, Jalabad Gas Transmission and Distribution System Ltd. Tk. 44,86,93, Tk. 44,86,93, Regent Textile Mills Limited Tk. 9,50,00, Tk. 9,50,00, Premier Cement Mills Limited Tk. 24,00,00, Tk. 24,00,00, Fu-Wang Ceramic Industry Limited Tk. 10,77,05, Tk. 10,77,05, Saif Powertec Limited Tk. 10,00,00, Tk. 10,00,00, Central Depository Bangladesh Limited Bonus Shares of Tk. 69,20,00, Tk. 69,20,00, Fareast Islami Securities Limited Tk. 108,00,00, Tk. 108,00,00,

9 12 Winsor Plastics BD Limited Bonus Shares of Tk. 45,90,00, Tk. 45,90,00, BASIC Bank Limited Bonus Shares of Tk. 14,55,00, Tk. 14,55,00, Summit Shipping Limited Tk. 15,00,00, Tk. 15,00,00, Barakatullah Electro Dynamics Limited Tk. 6,00,00, Tk. 6,00,00, Bengal Winder Thermoplastics Limited Tk. 8,00,00, Tk. 8,00,00, Sea Tex Limited Bonus Shares of Tk. 44,50,00, Tk. 44,50,00, United Sugar Mills Limited Tk. 60,00,00, Tk. 60,,00,00, Islami bank Securities Limited Tk. 240,00,00, Tk. 240,00,00,

10 20 Dhaka Regency Hotel Ressort Ltd. Tk. 10,00,00, Tk. 10,00,00, Total Status Report of Right Issue for January- March, 2011 Serial No. Name of the Company Date of Approval Number of shares Amount 1 Bangladesh Welding Electrodes Limited Approval of rights issue of 2,39,20,000 ordinary shares of Tk.10/- each at par totaling Tk. 23,92,00,000/- at a ratio of 2R:1 BDT 239,200, CMC Kamal Textile Mills Limited United Commercial Bank Limited Approval of rights issue of 3,78,40,000 ordinary shares of Tk.10/- each at an issue price of Tk each (including premium of Tk each) totaling Tk. 66,22,00, at a ratio of2r:1 Approval of rights issue of 29,09,95,350 ordinary shares of Tk.10/- each at an issue price of Tk. 15/- each (including premium of Tk. 5/- each) totaling Tk. 436,49,30, at a ratio of 1R:1 BDT 66,22,00, BDT 436,49,30,

11 4 Social Islami Bank Limited Approval of rights issue of 29,87,81,575 ordinary shares of Tk.10/- each at per totaling Tk. 298,78,15, at a ratio of 1R:1 BDT 298,78,15, Sonargaon Textile Ltd. City General Insurance Company Ltd Mercantile Insurance Company Ltd Approval of rights issue of 10,91,200 ordinary shares of Tk.100/- each at an issue price of Tk. 150/- each (including premium of Tk. 50/- each) totaling Tk. 16,36,80, at a ratio of 1R:1 Approval of rights issue of 18,15,000 ordinary shares of Tk.100/- each at an issue price of Tk. 150/- each (including premium of Tk. 50/- each) totaling Tk. 27,22,50, at a ratio of 1R:1 Approval of rights issue of 16,50,000 ordinary shares of Tk.100/- each at an issue price of Tk. 150/- each (including premium of Tk. 50/- each) totaling Tk. 24,75,00, at a ratio of 1R:1 BDT 16,36,80, BDT 27,22,50, BDT 24,75,00, S l. N o Name of the Co Public offering: Particulars of the issues for which Commission accorded consent for IPO through publication of Prospectus during January-March, 2011 Name of the Issue Manag er Date of Approval Face value Per share Total Capital (In Tk.) Sponsors Equity (Excluding premium, In Tk.) (9+13) Local Forei gn Total Public Equity (Excluding premium, In Tk.) General Public Forei gn place ment Local place ment Total ( ) Remarks Subscri bed amount Ref Col No Barkatulla h Electro Dynamics Prime Finance Capital 1/02/ crore crore crore crore cror Issue price of Tk.60 per share At a premium of crore 11 Date of Subscripti on Opens: Closes:

12 Ltd Manage ment Ltd. e Tk per share Surveillance Department: Daily Market Surveillance: As part of daily market surveillance, the surveillance officials watch and analyze the trading activities in both the stock exchanges through non trading on-line surveillance system in order to find out irregularities, suspicious trading and market misconducts, if any. At the end of trading, a daily trade report, at the end of week, weekly trade report & monthly trade report is prepared by pointing out market conditions and submitted to the Chairman, the Members and the EDs of the Commission. Investigation and Enquiry: In connection to fair-trading and confidence of investors in the securities market it is necessary to ensure proper compliance of securities related laws, rules and regulations through inspection & investigation in suspicious and manipulative cases. In this regard, the following stock-brokers/stock-dealers activities have been investigated by SEC, Dhaka Stock Exchange and Chittagong Stock Exchange during the referred period: Nature of Enquiry & Investigation Investigation & Enquiry Against Inspection & Enquiry Conducted By To enquire into certain unusual trading in shares of Chittagong Vegetable Oil Industries Limited in the stock exchanges and some other incidental matters thereto. Securities and Exchange Commission (SEC) To enquire into certain unusual declaration to buy shares of National Tea Company Limited by two sister concerns of a sponsor/director of the said listed company in the stock exchanges. Securities and Exchange Commission (SEC) To enquire into certain aggressive selling in different listed securities by Al-Arafah Islami Bank Limited (DSE Member # 234, CSE Member # 139) on January 20, 2011 in the stock exchanges. Al-Arafah Islami Bank Ltd. (DSE Member # 234, CSE Member # 139) Securities and Exchange Commission (SEC) To enquire into certain aggressive selling in different listed securities by Alliance Securities & Management Limited (DSE Member # 137) on January 20, 2011 in Alliance Securities & Management Ltd. (DSE Member # 137) Securities and Exchange Commission (SEC) 12

13 Dhaka Stock Exchange Limited. To enquire into certain aggressive selling in different listed securities by Dhaka Bank Limited (DSE Member # 193, CSE Member # 081) on January 20, 2011 in the stock exchanges. To enquire into certain aggressive selling in different listed securities by PFI Securities Limited (DSE Member # 79, CSE Member # 095) on January 20, 2011 in the stock exchanges. To enquire into certain aggressive selling in different listed securities by NCC Bank Limited (DSE Member # 61, CSE Member # 132) on January 20, 2011 in the stock exchanges. To enquire into certain aggressive selling in different listed securities by IIDFC Securities Limited (DSE Member # 238) on January 20, 2011 in Dhaka Stock Exchange Limited. Dhaka Bank Limited (DSE Member # 193, CSE Member # 081) PFI Securities Limited (DSE Member # 79, CSE Member # 095) NCC Bank Limited (DSE Member # 61, CSE Member # 132) IIDFC Securities Limited (DSE Member # 238) Securities and Exchange Commission (SEC). Securities and Exchange Commission (SEC) Securities and Exchange Commission (SEC) Securities and Exchange Commission (SEC) To investigate into aggressive selling of listed securities on January 20, Dhaka Stock Exchange Ltd. Chittagong Stock Exchange Ltd. To investigate into aggressive selling of listed securities by International Leasing Securities Limited on February 01, 2011 in Dhaka Stock Exchange Limited. To enquiry into certain aggressive selling in different listed securities by Fareast Stocks & Bonds Limited (DSE Member # 266) on February 07, 2011 in Dhaka Stock Exchange Limited. To enquiry into certain aggressive selling in different listed securities by HAC Securities Limited (DSE Member # 074) on February 07, 2011 in Dhaka Stock Exchange Limited. International Leasing Securities Limited (DSE Member # 09) Fareast Stocks & Bonds Ltd. (DSE Member # 266) HAC Securities Limited (DSE Member # 074) Dhaka Stock Exchange Ltd. Securities and Exchange Commission (SEC) Securities and Exchange Commission (SEC) To investigate into aggressive selling of shares of National Bank Limited on February 08, Dhaka Stock Exchange Ltd. 13

14 REGISTRATION Issuance and Renewal of Stock Dealer /Stock Broker Registration Certificate: During January- March 2011, the Commission issued 10 (ten) Stock broker/stock dealer registration certificates in favor of different members of Dhaka Stock Exchange Ltd. and 05 (five) Stock broker/stock dealer registration certificates in favor of different members of Chittagong Stock Exchange Ltd. under the wmwkdwiwur I G PÄ Kwgkb ( K wwjvi, K eªvkvi I Aby gvw`z cöwzwbwa) wewagvjv, These are as under; Dhaka Stock Exchange Limited: Sl. No. Name & Address of the Stock dealer/ Stock broker 1 AD Holdings Ltd. 14 Topkhana Road Sagunbagicha, Dhaka 1000,. Category Stock broker and Stock dealer Membership No. DSE-213 Registration Certificate No. & Issue Date Reg-3.1/DSE-213/2011/449 Date: & Reg-3.1/DSE-213/2011/450 Date: NCCB Securities & Financial Services Ltd. Sena Kalayan Bhaban, Suit # 1504(15Floor), 195 Motijheel C/A, Dhaka Peace Securities Ltd. Pankawri, Flat #D/3, 20 Chameli Bagh, Shantinagar,Dhaka-1217 Stock broker and Stock dealer Stock broker and Stock dealer DSE-61 DSE-159 Reg-3.1/DSE-61/2011/451 Date: & Reg-3.1/DSE-61/2011/452 Date: Reg-3.1/DSE-159/2011/441 Date: & Reg-3.1/DSE-159/2011/442 Date: Pubali Bank Securities Ltd. AA Bhaban (7 th Floor), 23 Motijheel C/A, Dhaka-1000 Stock broker and Stock dealer DSE-214 Reg-3.1/DSE-214/2011/443 Date: & Reg-3.1/DSE-213/2011/444 Date: IIDFC Securities Ltd. Eunoos Trade Centre(level-7), 23 Dilkusha C/A, Dhaka Stock broker and Stock dealer DSE # 238 Reg-3.1/DSE-238/2011/446 Date: & Reg-3.1/DSE-238/2011/445 Date: AK Khan Securities Ltd. Bays Gallaria (2 nd Floor), 57 Gulshan, Dhaka-1212 Stock broker and Stock dealer DSE # 006 Reg-3.1/DSE-006/2011/447 Date: & Reg-3.1/DSE-006/2011/448 Date: NBL Securities Ltd. Main Office, 18 Dil Kusha C/A, Dhaka-1000 Stock broker and Stock dealer DSE # 203 Reg-3.1/DSE-203/2011/457 Date: & Reg-3.1/DSE-203/2011/458 Date:

15 8 IFIC Securities Ltd. BDBL Bhaban (10 th Floor) 8 Rajuk Avenue, Motijheel C/A Dhaka Stock broker and Stock dealer DSE-142 Reg-3.1/DSE-203/2011/455 Date: & Reg-3.1/DSE-203/2011/456 Date: Bank Asia Securities Ltd. Hadi Mansion, 02 Dil Kusha C/A, Dhaka-1000 Stock broker and Stock dealer DSE-237 Reg-3.1/DSE-237/2011/463 Date: & Reg-3.1/DSE-237/2011/464 Date: ABC Securities Ltd. Sadharon Bima Bhaban, Head Office, 02 Dil Kusha C/A, Dhaka-1000 Stock broker and Stock dealer DSE-071 Reg-3.1/DSE-071/2011/459 Date: & Reg-3.1/DSE-071/2011/460 Date: Chittagong Stock Exchange Limited: Sl. No. Name & Address of the Stock dealer/ Stock broker 1 BRAC EPL Stock Brokerage Ltd. WW Tower, 68 Motijheel (level-8) C/A, Dhaka Category Membership No. Registration Certificate No. & Issue Date Stock broker CSE-13 Reg-3.2/CSE-13/2011/259 Date: RAK Capital C&F Tower (7 th Floor)1712 SK Mujib Road, Agrabad Chittagong 3 Green Delta Securities Ltd. Hadi Mansion(7 th Floor), 2 Dilkusha C/A, Dhaka Islami Bank Securities Ltd., 20 Dilkusha C/A, (4 th Floor) Dhaka-1000 Stock Dealer & Stock Broker Stock Dealer & Stock Broker Stock Dealer & Stock Broker CSE-28 CSE-130 CSE-146 Reg-3.2/CSE-28/2011/258 Date: & Reg-3.2/CSE-28/2011/257 Date: Reg-3.2/CSE-130/2010/262 Date: & Reg-3.2/CSE-130/2011/263 Date: Reg-3.2/CSE-1466/2010/265 Date: & Reg-3.2/CSE-146/2010/266 Date: NCCB Securities & Financial Services Ltd. Sena Kalayan Bhaban, Suit # 1504(15Floor), 195 Motijheel C/A, Dhaka- Stock Broker CSE-132 Reg-3.2/CSE-132/2010/264 Date:

16 1000 Moreover, the Commission renewed 116 (one hundred and sixteen) stock broker/stock dealer registration certificates of Dhaka Stock Exchange Ltd. and 26 (twenty six) Stock broker/stock dealer registration certificates of Chittagong Stock Exchange Ltd. respectively during January March Branch Opening Permission to the Stock Brokers: During the said Quarter, the Commission approved opening of 19 (nineteen) new branches of different Stock brokers of Dhaka Stock Exchange Limited. The Commission also approved opening of 13 (thirteen) new branches of different Stock brokers of Chittagong Stock Exchange Limited. Issuance and Renewal of Authorized Representative Registration Certificates: During the period under review, the Commission issued 332 (three hundred and thirty two) authorized representatives registration certificates of Dhaka Stock Exchange Ltd. and 153 (one hundred and fifty three) of Chittagong Stock Exchange Ltd. respectively under the wmwkdwiwur I G PÄ Kwgkb ( K wwjvi, K eªvkvi I Aby gvw`z cöwzwbwa) wewagvjv, Issuance and Renewal of Depository Participant Registration Certificate: During the Quarter, the Commission issued the following 14 (fourteen) depository participants registration certificates under wwcwruwi (e envwik) cöweavbgvjv, 2003 and renewed 101(one hundred and one) depository participant registration certificates. DP NO Name, Address & Contacts of the DP Membership No. Category Certificate No. & Issue Date 1 NC Securities Ltd 151 SK Mujib Road, Sultan Market (3 rd Floor), Agrabad C/ A, Chittagong 2 AD Holdings Ltd. 14 Topkhana Road Sagunbagicha, Dhaka 1000,. 3 AK Khan Securities Ltd. Bays Gallaria (2 nd Floor), 57 Gulshan, Dhaka Base Cpital Ltd 1712 SK Mujib Road C& F Tower (7 rd Floor), Agrabad C/ A, Chittagong - Full Service - Full Service CSE # 007 Full Service - Full Service SEC/Reg./CDBL-DP-346 Date: SEC/Reg./CDBL-DP-347 Date: SEC/Reg./CDBL-DP-348 Date: SEC/Reg./CDBL-DP-340 Date:

17 5 Prime Islami Securities Ltd.29 Dilkusha C/A, Dhaka Unity Share Trade Ltd.1397/7, SK Mujib Road, Agrabad, Chittagong 7 Peace Securities Ltd. 24/1 Chameli Bagh, Shantinagar,Dhaka JescoCapital Management Pedrollo Plaza(4 th Floor) 5 Jubli Road. Chittagong 9 RAK Capital C&F Tower (7 th Floor)1712 SK Mujib Road, Agrabad Chittagong 10 NCCB Securities & Financial Services Ltd. Sena Kalayan Bhaban, Suit # 1504(15Floor), 195 Motijheel C/A, Dhaka IIDFC Securities Ltd Dilkusha C/A, Dhaka City Brokerage Ltd. Jibon Bima Towr. 10 Dilkusha C/A, Dhaka DBL Securities Ltd Motijheel C/A, Dhaka MTB Securities Ltd Motijheel C/A, Dhaka Full Service - Full Service SEC/Reg./CDBL-DP-341 Date: SEC/Reg./CDBL-DP-342 Date: Full Sevice SEC/Reg./CDBL-DP-364 Date: Full Sevice SEC/Reg./CDBL-DP-364 Date: Full Sevice SEC/Reg./CDBL-DP-345 Date: Full Sevice SEC/Reg./CDBL-DP-059 Date: Full Sevice SEC/Reg./CDBL-DP-292 Date: Full Sevice SEC/Reg./CDBL-DP-64 Date: Full Sevice SEC/Reg./CDBL-DP-18 Date: Full Sevice SEC/Reg./CDBL-DP-08 Date: Issuance of Registration Certificate for Merchant Banking Operation and approval of opening new branch office of Merchant Bank: The Commission issued new Registration Certificate for Merchant Banking Operation in favor of the following Companies; 1. Cosmo Financial Services, on First Security Islami Capital & Investment Ltd. on AFC Capital Ltd. on Royal Green Capital Market Ltd on Race Port Folio and Issue Management Ltd. on

18 During the quarter, The Commission accorded approval to open total 8 (eight) new branch offices of 3 (three) Merchant Banks to perform the merchant banking activities under the wmwkdwiwur I G PÄ Kwgkb (gv P U e vskvi I cvu dvwji g v brvi) wewagvjv, Issuance of Asset Management Company Registration Certificate: During the quarter the Commission has approved Issuance of 1 (one) Asset Management Company Registration Certificate in favor of Zenith Investment Ltd., Under the wmwkdwiwur I G PÄ Kwgkb (wgdpz qvj dvû), wewagvjv, 2001 on Issuance of Trustee Registration Certificate: During the quarter the Commission has approved Issuance of 1 (one) Trustee Registration Certificate in favor of Fedility Assets & Securities Ltd. on under the wmwkdwiwur I G PÄ Kwgkb (wgdpz qvj dvû), wewagvjv, MUTUAL FUND & SPECIAL PURPOSE VEHICLE (MF & SPV) During January-March, 2011, Mutual Fund and SPV Department has performed the following activities: Completed the process for approval of Trust Deed and Investment Management Agreement of VIPB NRB Growth Fund (Closed-end), Uttara Finance First Mutual Fund (Closed-end), First Bangladesh Fixed Income Fund Mutual Fund (Closed-end), Continental Insurance First Mutual Fund, AB Bank First Mutual Fund, Fareast Islami Life Insurance First Mutual Fund (Closed-end) and BGIC Mutual Fund (Closed-end). Completed the process relating to registration of First Bangladesh Fixed Income Fund (Closed-end). Completed the process relating to approval of prospectus and abridged version of prospectus of EBL NRB Mutual Fund and Southeast Bank First Mutual Fund. Completed the process for approval of lottery of MBL First Mutual Fund (Closed-end) Completed the process of approval for deployment of fund of MBL First Mutual Fund (Closed-end), AIBL First Islamic Mutual Fund-One (Closed-end) During this period in the context of current capital market situation completed the process relating to permission of the Commission to invest the Sponsor s Contribution of the Funds namely Reliance One the First Scheme of Reliance Insurance Mutual Fund, NLI First Mutual Fund-One (Closed-end), Southeast Bank First Mutual Fund, Sonali Bank First Mutual Fund(Closed-end), First Agrani Bank Mutual Fund(Closed-end), Rupali Life Insurance First Mutual Fund (Closed-end), NCCBL Mutual Fund-One (Closed-end), Prime Finance Second Mutual Fund (Closed-end), First Bangladesh Fixed Income Fund (Closed-end), Exim Bank First Mutual Fund (Closed-end), EBL NRB Mutual Fund and LR Global Bangladesh Mutual Fund-One. 18

19 SUPERVISION AND REGULATION OF MARKETS AND ISSUER COMPANIES (SRMIC) During January-March 2011, the following companies held AGM. Information on AGM and dividend is shown in the following table: BANK SECTOR Sl.No. Name Year End Date of AGM % of Dividend cash stock 1 National Bank Ltd /03/ %B 2 Southeast Bank Ltd /03/ %B 3 Dutch Bangla Bank Ltd /03/ Brac Bank Ltd /03/ %B 5 Prime Bank Ltd /03/ %B 6 Mutual Trust Bank Ltd /03/ %B 7 One Bank Ltd /03/ %B 8 Dhaka Bank Ltd /03/ %B 9 Eastern Bank Ltd /03/ %B 10 Bank Asia /03/ %B FINANCIAL INSTITUTIONS SECTOR Sl.No. Name Year End Date of AGM % of Dividend cash stock 1 Lankabangla Finance Ltd /03/ %B 2 Prime Finance /03/ %B 3 International Leasing /03/ %B 4 IDLC /03/ %B INSURANCE SECTOR Sl.No. Name Year End Date of AGM % of Dividend cash stock 1 Continental Insurance /03/ %B SERVICE & REAL ESTATE SECTOR Sl.No. Name Year End Date of AGM % of Dividend cash stock 1 Samorita Hospital /01/ CERAMICS SECTOR Sl.No. Name Year End Date of AGM % of Dividend cash stock 1 RAK Ceramics /03/ %B FUEL & POWER SECTOR 19

20 Sl.No. Name Year End Date of AGM % of Dividend cash stock 1 DESCO /01/ %B 2 Power Grid /02/ %B 3 Eastern Lubricants /02/ TEXTILE SECTOR Sl.No. Name Year End Date of AGM % of Dividend cash stock 1 HR Textile /03/ %B ENGINEERING SECTOR Sl.No. Name Year End Date of AGM % of Dividend cash stock 1 Anwar Galvanizing /03/2011 Nil - 2 S. ALAM COLD ROLLED STEELS LTD /03/ %B PAPER & PRINTING SECTOR Sl.No. Name Year End Date of AGM % of Dividend cash stock 1 SONALI PAPER & BOARD MILLS LTD /01/2011 6% - MISCELLANEOUS SECTOR Sl.No. Name 1 SINOBANGLA INDUSTRIES LIMITED Year End Date of AGM % of Dividend cash stock /02/ % - COMPLAINT AGAINST LISTED COMPANIES: Nature of Complaint No. of Companies Under Process Referred for Enforcement Action Resolved Non payment or delay in payment of dividend Non payment of debenture installment Regarding transfer of shares Non receipt of letter of rights share offering Non receipt of annual report Refund warrant Non demat of shares Miscellaneous 5 5 Total

21 Supervision and Regulation of Intermediaries (SRI) The functions of SRI Department are supervising and regulating the activities of stock-dealers/stock brokers, depository participants, security custodian banks, merchant bankers, security lenders and borrowers and other market intermediaries. This department conducts the regular inspection of stock brokers/dealers, DP s and Merchant Banks on monthly basis and also conducts special inspection as and when required. The SRI department also deals with the complaints lodged by the general investors and other stakeholders. During, January-March 2011, the following activities were performed by this department. Complaints against Stock Broker/Stock Dealer/Depository participant: Nature of Under Complaints Process No. of Complaints Received Referred to Enforcement Dept. for Action Referred to DSE/CSE for Negotiation Resolved Lost of shares Unauthorized debit of share Non-transfer of share Non-payment of sales proceeds Financial loss due to Unauthorized debit of share Financial loss due to nontransfer of share Delay in settlement Non-receipt of share Corruptions of Broker/Dealer Others Total Regular Inspection of Stock Broker/Stock Dealer/Depository Participants: Sl. Nature of No. Inspection 1 Monthly regular Inspection for the Month of January, 2011 Broker/Dealer/DP under Inspection SCL Securities Limited (DSE Member No. 121) Inspection conducted by 1. Mr. Md. Iqbal Hossain, Assistant Director Date of commencement January 23 & 24, 2011 Comments/ Status Matter has been disposed off. 2. Mrs. Sultana Parveen, Assistant Director 21

22 2 Monthly regular Inspection for the Month of January 2011 SES Company Limited (DSE Member No. 163) 1. Mr. Mohammed Shafiul Azam, Director 2. Mr. Mohammad January 16 to 20, 2011 Matter has been disposed off. Jahangir Alam, Deputy Director 3 Monthly regular Inspection for the Month of January 2011 National Brokers Limited (CSE Member No. 68) 1.Mr. Abu Rayhan Mohammad Mutasim Billah, DD January 16 & 17, 2010 Report referred to Enforcement department for necessary action 2. Mr. Md. Rashidul Alam, PS tochairman 4 Monthly regular Inspection for the Month of January 2011 Megacity Securities Ltd. (CSE Member No. 116) 1. Mr. Md. Fakhrul Islam Mazumder, Deputy Director January 16 & 17, 2010 Report referred to Enforcement department for necessary action 2. Mr. Md. Ohidul Islam, Assistant Director 5 Monthly regular Inspection for the Month of February 2011 Uniroyal Securities Ltd. (DSE Member No. 89) 1.Mr. Rajib Ahmed, Deputy Director 2. Ms. Mahmuda February 14 to 15, 2011 Matter has been disposed off. Shireen, Assistant Director 6 Monthly regular Inspection for the Month of February 2011 K.H.B. Securities Ltd. (DSE Member No. 143) 1.Mrs. Tania Sharmin, Assistant Director 2. Mr. Syed Golam February 14 to 15, 2011 Matter has been disposed off. Mowla, AssistantDirector 7 Monthly regular Inspection for the Month of February 2011 Bangladesh Development Bank 1. Mr. Abu Rayhan Mohammad Mutasim February 20 to 22, 2011 Report referred to Enforcement department for necessary action 22

23 Ltd. (CSE Member No. 78 & DSE Member Billah, Deputy Director 2. Mr. Md. Saiful Islam, Assistant Director No. 152) 8 Monthly regular Inspection for the Month of February 2011 DBL Securities Limited (CSE Member No. 1. Mr. Mohammad Jahangir Alam, Deputy Director February 20 to 24, 2011 Matter has been disposed off. 81 & DSE Member 2. Mr. Mahmoodul No. 193) Hoque, Deputy Director 9 Monthly regular Inspection for the Month of March 2011 Dynamic Securities Consultants Ltd. (DSE Member No. 1.Mr. Md. Monsur Rahman, Deputy Director March 13 to 15, 2011 Matter has been disposed off. 126) 2. Mr. Md. Ohidul Islam, Assistant Director Sl. Nature of No. Inspection 10 Monthly regular Inspection for the Month of March 2011 Broker/Dealer/DP under Inspection Hedayetullah Securities Ltd. (DSE Member No. 140) Inspection conducted by 1. Mr. Md. Fakhrul Islam Mazumder, Deputy Director Date of commencement March 13 to 15, 2011 Comments/ Status Matter has been disposed off. 2. Mr. Muhammad Ziaur Rahman, Deputy Director 11 Monthly regular Inspection for the Month of March 2011 Royal Capital Ltd. (CSE Member No. 53) 1.Mr. Mohammad Jahangir Alam, Deputy Director March 20 to 24, 2011 Matter has been disposed off. 2. Mr. Md. Mahmoodul Hoque, Deputy Director 12 Monthly regular Inspection for the Month of Habib Shares & Securities Ltd. 1.Mr. Sheikh Mahbub Ur Rahman, Deputy March 20 to 22, 2011 Matter has been disposed off. 23

24 March 2011 (CSE Member No. 54) Director 2. Mr. Mohammad Rakibur Rahman, Assistant Director Special Inspection of Stock Broker/Stock Dealer/Depository Participants: Sl. No. Nature of Inspection 1 Monthly Special Inspection for the Month of February 2010 Exchange/Broker/De aler /DP under Inspection Dawn Securities Ltd. (DSE Member no. Inspection conducted by 1. Mr. Sheikh Mahbub Ur Rahman, Deputy Director Date of commencement February 27 & 28, 2011 Comments/ Status Report referred to Enforcement department for necessary action 141) 2. Mr. Muhammad Ziaur Rahman, DD 2 Monthly Special Inspection for the Month of March 2010 G M F Securities Ltd. (DSE Member No. 186) 1. Mr. Md. Iqbal Hossain, Assistant Director March 20 & 21, 2011 Matter has been disposed off. 2.Mr. Syed Golam Mowla, Assistant Director Merchant Bank inspections: Sl. No. Nature of Inspection Merchant Bank Inspection conducted by Date of commencement Comments/ Status 1 Monthly regular Inspection for the Month of January 2011 Fidelity Assets & Securities Company Limited 1. Mr. Md. Fakhrul Islam Mazumder, Deputy Director, SEC January 30 to 31, 2011 Report referred to Enforcement department for necessary action 2. Mr. Yusuf Bhuiyan, Assistant Director, SEC 2 Monthly regular Inspection for the Month of Bay Leasing and Investment Limited 1. Mr. Mohammed Shafiul Azam, February 27 to 28, 2011 Report referred to Enforcement department for necessary action 24

25 February 2011 Director, SEC 2. Mr. Md. Iqbal Hossain, Assistant Director, SEC 3 Monthly regular Inspection for the Month of March 2011 IIDFC Capital Ltd. 1. Mr. A.S.M. Mahmudul Hasan, Deputy Director, SEC March 27-29, 2011 Report referred to Enforcement department for necessary action 2. Mr. Md. Saiful Islam, Assistant Director, SEC ENFORCEMENT DEPARTMENT During January to March, 2011 the following enforcement actions against Issuer Companies, Chartered Accountants, Stock-Brokers/Stock-Dealers and Others were taken by the Commission for non-compliance of the securities related laws: Against Issuer Company: Violation No. of Issuer Companies Nature of Action Failure to submit the audited financial statements 3 Warning Failure to comply with securities related laws 7 Warning Non-compliance of Directive/Notification/Order 1 Warning Accurate and transparent information not reflected in the audited financial statements 2 Penalty Failure to comply with securities related laws 6 Penalty Failure to submit the half-yearly financial statements 2 Penalty Total 21 25

26 Against Stock Broker/ Stock Dealer: Violation No. of Stock Broker/Stock- Dealer Nature of Action Non-compliance of securities related laws 2 Warning Non-compliance of securities related laws 5 Penalty Total 7 During January to March, 2011 Enforcement department has taken 28 No. of action against issuer companies, stockbrokers, stock-dealers and others. LAW Total 358 cases filed by or against SEC are pending in different courts. Name of the courts are given below along with number of pending cases with each: Sl. No. Name of the Court Number of Cases 01. Supreme Court of Appellate Division 06 Bangladesh High Court Division District Judge Court, Dhaka Metropolitan Sessions Judge Court, Dhaka st Asst.Metropolitan Session Judge Court, Dhaka th Joint District judge Court, Dhaka th Joint Dist. Judge Court, Dhaka th Asst. Judge Court, Dhaka th Assistant Judge (Savar) court, Dhaka Chief Metropolitan Magistrate Court, Dhaka General Certificate Court, Dhaka. 192 Total Cases : Out of total 15 share scam cases of 1996, 1 case is now pending before the Appellate Division, 10 cases before the High Court Division of Bangladesh Supreme Court and rest 4 cases are pending before the Metropolitan Session Judge Court, Dhaka (three) certificate cases were filed against the directors of 03 companies in order to recover the penalty imposed by the Commission for violation of securities laws during the period January- March, 2011 under Public Demands Recovery Act, Management Information System (MIS) 26

27 MIS Department is responsible to assist different departments of SEC through development of automation in their activities, development of capital market monitoring system based on computerized data analysis, and informing all about securities laws and other related matters through website. At present all officers of SEC use computers in their daily activities. All computers are connected through local area network (LAN). Different modules of integrated Securities and Exchange Commission Automated System (SECAS) have been developed at SEC for use of its different departments. Officers of SEC can use broadband internet connection from their workstation through connected LAN. SEC s website ( is enriched with various information like securities laws, IPO prospectus, eligible securities, depository participants, enforcement actions, reports etc, which are updated regularly and many users visit the website. MIS department works on development, modification and maintenance of the mentioned systems. During January-March 2011, Important Web Uploads and Website Visits: Works Number IPO Prospectus/ Right offer document Upload 6 Enforcement Actions Upload 27 Other Order/Notification/Directive etc Upload 18 Quarterly Report Upload 3 Annual Report Upload - Proposed Draft Rule Upload for Comments 4 No. of Website Visitors(As Per Web Counter) (approx) RESEARCH AND DEVELOPMENT (R&D) Research and Development Department of the Commission conducts investors education program for the general investors, impart capital market related seminar for various government and non-government organizations, prepares and publishes Commission s various publications regularly, furnishes various reports and information to the government and other institutions including Ministry of Finance and different regulatory authorities, and makes paper clipping from most of the daily newspapers (20 dailies ) and circulate it to the Commission and executives. The department also deals the training program of the authorized representatives jointly with the stock exchanges. During January-March 2011 Research and Development Department has carried out regular activities as mentioned in the table below: S/N Name of Work Quantity 1 Training Program for General Investors (Two-days program) 2 Training for Authorized Representatives (Two-days program) 6(six) programs 260 participants DSE- 10 programs 600 participants CSE- 4 programs 240 participants Total-16 programs Total- 840 participants 27

28 4 Quarterly Report 1 5 Parikrama 1 6 Monthly Work Plan to MOF 3 7 Monthly Progress Report to MOF 3 8 Quarterly Manpower Report to MOF 1 Quarterly Capital Market Regulatory Reforms and Compliance (CMRRC): During January-March, 2011 the following directives/amenmends/order/notifications related to capital market have been issued: µwgk bs welq kªyxwefvm m~î bs 1 Repeal of the Directive No. SEC/CMRRCD/ /17 dated February 08, 2010 regarding financial adjustment facility in respect of trading in shares of Grameenphone Ltd. 2 Repeal of serial No. 1 of the Directive No. SEC/CMRRCD/ /51 dated July 22, 2010 and the relevant portion of the Directive No. SEC/CMRRCD/ /53 dated July 25, 2010 regarding credit facility to individual clients by the members of the stock exchanges. 3 gv P U e vskvi KZ K Kvb GKK e w³i AbyKy j gvwr b FY cö`vb cöm ½ Av `k bs-gmbwm/wmggaviaviwmww/ /52 ZvwiL RyjvB 22, 2010Bs Gi µwgk bs-1 Ges Av `k bs- GmBwm/wmGgAviAviwm/ /54 ZvwiL RyjvB 25, 2010Bs Gi mswk ó Ask evwzj KiY 4 Repeal of serial No. (b) of the Directive No. SEC/CMRRCD/ /68 dated Directive Directive Av `k Directive SEC/CMRRCD/ /87 Dated: January 09, 2011 SEC/CMRRCD/ /88 Dated: January 09, 2011 GmBwm/wmGgAviAviwm/ /89 ZvwiL: Rvbyqvwi 09, 2011 SEC/CMRRCD/ /90 Dated: January 09,

29 µwgk welq kªyxwefvm m~î bs bs November 21, 2010 regarding credit facility to new clients by the members of the stock exchanges. 5 gv P U e vskvi KZ K Dnvi bzzb g j `i AbyKy j gvwr b FY cö`vb cöm ½ Av `k bs- GmBwm/wmGgAviAviwmwW/ /69 ZvwiL b f ^i 21, 2010Bs Gi µwgk bs-(l) evwzj KiY 6 The members of the stock exchanges may extend credit facilities to their approved clients upto 2 (two) times of clients margin/deposit under the Margin Rules, gv P U e vskvi ( cvu dvwji g v brvi) KZ K Dnvi g j `i K weziy hvm gvwr b F Yi m e v P nvi 1 t 2 (A_ vr, g j ev MÖvn Ki Znwe ji `yb Y) 8 Repeal of (a) serial No. (1) of the Directive No. SEC/CMRRCD/ /63 dated September 06, 2010 regarding netting facility in respect of non-marginable securities; and (b) SEC/CMRRCD/ /72 dated November 30, 2010 to place shares of 14 (fourteen) companies in the spot market for trading. 9 wmwkdwiwur I G PÄ Kwgkb (gv P U e vskvi I cvu dvwji g v brvi) wewagvjv, 1996 Gi wewa 16K Gi Dcwewa (1) Gi `dv (L) Gi kz vs ki Av `k Directive Av `k Directive Av `k GmBwm/wmGgAviAviwm/ /91 ZvwiL: Rvbyqvwi 09, 2011 SEC/CMRRCD/ /92 Dated: January 10, 2011 GmBwm/wmGgAviAviwm/ /93 ZvwiL: Rvbyqvwi 10, 2011 SEC/CMRRCD/ /94 Dated: January 10, 2011 GmBwm/wmGgAviAviwm/ /95 ZvwiL: Rvbyqvwi 10,

30 µwgk welq kªyxwefvm m~î bs bs Kvh KvwiZv Ryb 30, 2011Bs ZvwiL ch š wmz KiY 10 wmwkdwiwur I G PÄ Kwgkb Av `k GmBwm/wmGgAviAviwm/ /96 (wgdpy qvj dvû) wewagvjv, 2001 Gi ZvwiL: Rvbyqvwi 11, 2011 wewa 56 G Dwj wlz câg Zdwm ji `dv 2 I 5 Gi Kvh KvwiZv gvp 31, 2011Bs ZvwiL ch š wmz KiY 11 To transfer the securities of 10 (ten) companies from the Overthe-Counter (OTC) Market to the Main Market for transaction. 12 The exercise of the Book Building Method under the Securities and Exchange Commission (Public Issue) Rules, 2006 and all respective conditions, clauses of the Commission s previous Notifications, Directives, Orders shall remain suspended until further order. 13 Regarding cooperation to the enquiry committee formed by the Gazette Notification No. GmBwm/mv f Bj vý/ /500 ZvwiL, 26 Rvbyqvwi Regarding publication of the quarterly financial statements in the websites of the respective listed companies in compliance with the Directive No. SEC/CMRRCD/ /09/Admin/21 dated January Directive Notification Directive Directive SEC/CMRRCD/ /97 Dated: January 16, 2011 SEC/CMRRCD/2008/186/98/Ad min/03-58 Dated: January 20, 2011 SEC/CMRRCD/ /100 Dated: February 10, 2011 SEC/CMRRCD/ /101 dated March 10,

31 µwgk bs welq kªyxwefvm m~î bs 17, wmwkdwiwur I G PÄ Kwgkb (wgdpz qvj dvû) wewagvjv, 2001 Gi ms kvab cöávcb GmBwm/wmGgAviAviwmwW/ /101/cÖkvmb/03-59 ZvwiL: gvp 14, 2011 No. SEC/CMRRCD/ /88 January 09, 2011 DIRECTIVE The Securities and Exchange Commission, in the interest of the investors in securities and the capital market, hereby repeals serial No. 1 of its Directive No. SEC/CMRRCD/ /51 dated July 22, 2010, read with relevant portion of the subsequent Directive No. SEC/CMRRCD/ /53 dated July 25, This shall have immediate effect. By order of the Securities and Exchange Commission Md. Ziaul Haque Khondker Chairman. No. SEC/CMRRCD/ /87 January 09, 2011 DIRECTIVE The Securities and Exchange Commission, in the interest of the investors in securities and the capital market, hereby repeals its Directive No. SEC/CMRRCD/ /17 dated February 08, This shall have effect from January 10, By order of the Securities and Exchange Commission Md. Ziaul Haque Khondker Chairman. bs GmBwm/wmGgAviAviwm/ /91 Rvbyqvwi 09, 2011Bs Av `k wmwkdwiwur I G PÄ Kwgkb, wewb qvmkvix I cyuywrevrv ii ^v _, Bnvi Av `k bs GmBwm/wmGgAviAviwmwW/ /69 ZvwiL b f ^i 21, 2010Bs Gi µwgk bs (L) GZØviv wb gv³fv e ms kvab Kwij;- Ò(L) gv P U e vskvi ( cvu dvwji g v brvi) KZ K Kvb g j Z_v MÖvnK K Dnvi wnmve Lvjvi Z_v D³ wnmv e UªwWs Gi Rb g j/mövn Ki wbr ^ Znwej Rgv Kivi ZvwiL nb Z 15 (cbi) UªwWs w`em ch š Kvb gvwr b FY cö`vb wbwl Kwij Ó GB Av `k Awej ^ Kvh Ki nb e wmwkdwiwur I G PÄ Kwgk bi c 31

32 gvt wrqvdj nk Lv `Kvi Pqvig vb bs GmBwm/wmGgAviAviwm/ /89 Rvbyqvwi 09, 2011Bs Av `k wmwkdwiwur I G PÄ Kwgkb, wewb qvmkvix I cuywrevrv ii ^v _, Bnvi Av `k bs GmBwm/wmGgAviAviwm/ /52 ZvwiL RyjvB 22, 2010Bs Gi µwgk bs-1, Av `k bs GmBwm/wmGgAviAviwm/ /54 ZvwiL RyjvB 25, 2010Bs Gi mswk-ó Askmn cwvz, GZØviv evwzj Kwij GB Av `k Awej ^ Kvh Ki nb e wmwkdwiwur I G PÄ Kwgk bi c gvt wrqvdj nk Lv `Kvi Pqvig vb No. SEC/CMRRCD/ /90 January 09, 2011 DIRECTIVE The Securities and Exchange Commission, in the interest of investors and capital market, hereby amend serial No. (b) of its Directive No. SEC/CMRRCD/ /68 dated November 21, 2010, to read as follows: (b) during the first 15 (fifteen) trading days of opening the clients account and depositing clients own fund into such account for trading purpose, under the Margin Rules, 1999, until further order.. This shall have immediate effect. By order of the Securities and Exchange Commission Md. Ziaul Haque Khondker Chairman. No. SEC/CMRRCD/ /94 January 10, 2011 DIRECTIVE The Securities and Exchange Commission, in the interest of investors and capital market, hereby repeals the following;- (a) the serial No. (1) of the Directive No. SEC/CMRRCD/ /63 dated September 06, 2010; (b) the Directive No. SEC/CMRRCD/ /72 dated November 30, This shall have effect from January 11, By order of the Securities and Exchange Commission Md. Ziaul Haque Khondker Chairman. 32

33 bs GmBwm/wmGgAviAviwm/ /93 Rvbyqvwi 10, 2011Bs Av `k wmwkdwiwur I G PÄ Kwgkb, wmwkdwiwur I G PÄ Kwgkb (gv P U e vskvi I cvu dvwji g v brvi) wewagvjv, 1996 Gi wewa 36 gvzv ek Zdwm j Dwj-wLZ gvwr b FY cö`vb msµvš wb ` kbv bs 6 (1) G cª`ë gzve j, ciezx wb ` k bv `Iqv ch š, GZØviv gvwr b FY Gi m e v P nvi 1 t 2 (GK AbycvZ `yb) c~b: wba viy Kwij (A_ vr, g j ev MÖvn Ki Znwe ji `yb Y) hvnvi wfwë Z gv P U e vskvi ( cvu dvwji g v brvi) Dnvi g j Z_v MÖvnK K weziy hvm gvwr b FY cö`vb Kwi Z cvwi e GB Av `k GZ`&msµvš c~ e RvwiK Z Av `k bs GmBwm/wmGgAviAviwm/ /80 ZvwiL ww m ^i 19, 2010Bs Gi avivevwnkzvq Rvwi Kiv nbj, hvnv Rvbyqvwi 11, 2011Bs ZvwiL nb Z Kvh Ki nb e wmwkdwiwur I G PÄ Kwgk bi c gvt wrqvdj nk Lv `Kvi Pqvig vb bs- GmBwm/wmGgAviAviwm/ /95 Rvbyqvwi 10, 2011Bs Av `k wmwkdwiwur I G PÄ Kwgkb, wewb qvmkvix I cyuwrevrv ii ^v _, wmwkdwiwur I G PÄ Kwgkb (gv P U e vskvi I cvu dvwji g v brvi) wewagvjv, 1996 Gi wewa 16K Gi Dcwewa (1) Gi `dv (L) Gi kz vs ki Kvh KvwiZv GZØviv Ryb 30, 2011Bs ZvwiL ch š wmz Kwij GB Av `k Rvbyqvwi 11, 2011Bs ZvwiL nb Z Kvh Ki nb e wmwkdwiwur I G PÄ Kwgk bi c gvt wrqvdj nk Lv `Kvi Pqvig vb No. SEC/CMRRCD/ /92 January 10, 2011 DIRECTIVE Further to the Directive No. SEC/CMRRCD/ /79 dated December 19, 2010 issued by the Securities and Exchange Commission, the members of the stock exchanges may now extend credit facilities to their approved clients upto 2 (two) times of clients margin/clients deposit (i.e. credit facilities shall be on 1:2 basis) under the Margin Rules, 1999, until further order. 33

34 This shall have effect from January 11, By order of the Securities and Exchange Commission Md. Ziaul Haque Khondker Chairman. bs- GmBwm/wmGgAviAviwm/ /96 Rvbyqvwi 11, 2011Bs Av `k wmwkdwiwur I G PÄ Kwgkb, wewb qvmkvix I cyuwrevrv ii ^v _, wmwkdwiwur I G PÄ Kwgkb (wgdpy qvj dvû) wewagvjv, 2001 Gi wewa 56 G Dwj-wLZ câg Zdwm ji `dv 2 I 5 Gi Kvh KvwiZv GZØviv gvp 31, 2011Bs ZvwiL ch š wmz Kwij GB Av `k Awej ^ Kvh Ki nb e wmwkdwiwur I G PÄ Kwgk bi c gvt wrqvdj nk Lv `Kvi Pqvig vb No. SEC/CMRRCD/ /97 January 16, 2011 DIRECTIVE In exercise of the power conferred by section 20A of the Securities and Exchange Ordinance, 1969 (XVII of 1969), the Securities and Exchange Commission hereby directs the Dhaka Stock Exchange Ltd. and the Chittagong Stock Exchange Ltd. to transfer the securities of the following companies from the Over-the-Counter (OTC) Market to the Main Market for transaction, as the securities of these companies have been declared as eligible for dematerialization: 1. Bangladesh Services Ltd. 2. Samata Leather Complex Ltd. 3. Anlima Yarn Dyeing Ltd. 4. Alltex Industries Ltd. 5. Modern Dyeing & Screen Printing Ltd. 6. Zeal Bangla Sugar Mills Ltd. 7. Shyampur Sugar Mills Ltd. 8. Renwick Jajneswar & Co. (Bd) Ltd. 9. Northern Jute Manufacturing Co. Ltd. 10. Orion Infusion Ltd. This directive shall have effect from January 23, By order of the Securities and Exchange Commission Md. Ziaul Haque Khondker Chairman. NOTIFICATION January 20, 2011 No. SEC/CMRRCD/2008/186/98/Admin/ : Whereas, the Securities and Exchange Commission (hereinafter referred to as the Commission ) deems it fit that the consent already accorded by the Commission, or deemed to have been accorded by it, or to be accorded by it in future, to the issue of capital, should be subject to certain further condition in the interest of investors and the capital market; Now, therefore, in exercise of the power conferred by section 2CC of the Securities and Exchange 34