BSEC launches probe into HAC Securities over investor complaint

The Bangladesh Securities and Exchange Commission (BSEC) has ordered an investigation into alleged irregularities by HAC Securities Limited, a TREC holder of Dhaka Stock Exchange (DSE), following a complaint lodged by one of its investor clients.

In a directive issued late last month, the capital market regulator said the probe was initiated to safeguard the interests of the market and general investors.

BSEC has also formed a three-member inquiry committee comprising Additional Director Abul Kalam Azad, and Assistant Directors Md. Maruf Hassan, and Md Ashraful Hasan. The investigation team has been asked to submit its report within 60 days of the issuance of the order.

HAC Securities, headquartered in the DSE Building at Motijheel, has been formally notified of the Commission's decision.

Md Abul Kalam, spokesperson for the BSEC, told The FE that the Commission is also currently conducting an inspection of HAC Securities.

According to the company's website, HAC Securities operates six branches across the country, including locations in Dhaka, Faridpur, Narayanganj, Sylhet and Patuakhali.

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