BSEC extends deadline for provisioning of 11 market intermediaries

The Bangladesh Securities and Exchange Commission (BSEC), the country’s capital market regulator, has decided to conditionally extend the deadline for provision conservation and adjustment for 11 additional intermediary institutions.

This decision aims to provide relief to firms struggling with deficits related to negative equity and unrealised losses.

The decision was finalised during the 986th Commission meeting of the BSEC, held today at the BSEC conference room in the city, according to a press release.

The meeting was chaired by BSEC Chairman Khondoker Rashed Maqsood.

According to a BSEC notification, the extension was granted after the commission reviewed and considered the action plan submitted by these institutions regarding the provisioning and adjustment of their negative equity and unrealised losses.

The 11 institutions are: Fintra Securities Ltd., Sheltech Brokerage Limited, Joytun Securities International Ltd., BDBL Investment Services Ltd., Hazrat Amanat Shah Securities Ltd., GMF Securities Ltd., Wifang Securities Limited, BRB Securities Ltd., BNB Securities Ltd., BMSL Investment Limited and Midas Investment Limited.

This latest regulatory action highlighted a continuing trend of financial stress among capital market intermediaries. This extension follows a similar decision made by the BSEC earlier in November.