 | SEC puts cap on single-borrower exposure
22 July, 2010
The securities regulator (the Securities and Exchange Commission) has imposed cap on the single-borrower exposure of the merchant banks and the brokerage houses to bring about discipline in the stock market, officials said Wednesday.
The exposure limit has been set at Tk 100 million in the case of merchant banks and Tk 50 million for brokerage houses. The decision on exposure limit will come into effect from July 25 (Sunday).
The latest move has come in the backdrop of the SEC's recent directive to 31 merchant bankers and 26 brokerage houses to submit the portfolio statements of their respective top 50 individual investors.
"The decisions were taken not to rein in the rising share prices but to ensure discipline in the market," Anwarul Kabir Bhuiyan, executive director of the SEC, told the newsmen after the commission meeting.
Release link:http://www.thefinancialexpress-bd.com/more.php?news_id=106924&date=2010-07-22
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