The Financial Express

BSEC extends timeframe

| Updated: January 03, 2018 14:50:31

Evaly and Fianancial Express Evaly and Fianancial Express
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The securities regulator has extended the timeframe till December 31, 2018 for keeping provision against unrealised losses in portfolios of merchant banks, stock dealers and their clients.

The existing deadline of keeping provision against unrealised losses ended on December 31, 2017.

The Bangladesh Securities and Exchange Commission (BSEC) has extended the deadline of keeping provision following the plea of merchant banks and stock dealers.

The market situation has also been taken into account while taking the decision of extending the deadline of keeping provision.

The merchant banks and stock dealers will have to inform the regulator about the progress of keeping provision by submitting update reports in every quarter.

The market intermediary institutions, which are yet to complete the job of keeping provision as per the directive of December 28, 2016, will have to complete the job of keeping provision by the stipulated timeframe, the securities regulator said.

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