The Securities and Exchange Commission has endorsed a proposal of Dhaka Stock Exchange (DSE) to activate dormant BO (beneficiary owner) accounts.
Stakeholders believe the move will help increase transactions in the sluggish market.
A press release issued by SEC spokesperson Saifur Rahman on Tuesday said a meeting of the capital market regulator approved the proposal.
It said the Section 3(5) of the Margin Rules, 1999 has been suspended until Sep 30 at the BSEC meeting.
The section provides that stockbrokers or dealers have to issue a three-day notice to the investors with portfolios having negative balance up to 150 percent to adjust the margin loans.
The section intends to help the portfolio-holders to come out of situation through fresh flow of funds.
On Mar 4, the DSE asked the regulator for readjustment of portfolios and suspension of the section to stabilise the capital market.
DSE President Mohammad Rakibur Rahman told bdnews24.com on Tuesday: “The SEC responded to our proposal. This is a very good step. This will boost confidence of the investors (in the market).”
A press release issued by SEC spokesperson Saifur Rahman on Tuesday said a meeting of the capital market regulator approved the proposal.
It said the Section 3(5) of the Margin Rules, 1999 has been suspended until Sep 30 at the BSEC meeting.
The section provides that stockbrokers or dealers have to issue a three-day notice to the investors with portfolios having negative balance up to 150 percent to adjust the margin loans.
The section intends to help the portfolio-holders to come out of situation through fresh flow of funds.
On Mar 4, the DSE asked the regulator for readjustment of portfolios and suspension of the section to stabilise the capital market.
DSE President Mohammad Rakibur Rahman told bdnews24.com on Tuesday: “The SEC responded to our proposal. This is a very good step. This will boost confidence of the investors (in the market).”
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