The Bangladesh Securities and Exchange Commission (BSEC) on Wednesday fined the directors and managing directors of Tung Hai Knitting and Dyeing Limited and Lexco Limited, excluding the independent directors, for violating securities laws.
The securities regulator took the decision at a commission meeting held in the capital on the day.
BSEC Chairman Prof Shibli Rubayat Ul Islam presided over the meeting, according to an official statement from the organization.
The guilty parties of both the companies were each fined Tk1 lakh.
Meanwhile, the commission also fined two investors Tk20 lakh for manipulating share prices.
The regulatory body fined a customer of AIBL Capital Market Services, Solayman Rubel, Tk 10 lakh for serial trading of IFAD Autos' shares.
The BSEC also fined International Securities Tk5 lakh and its authorized representative Kamruzzaman Rumman Tk5 lakh for selling shares without its customers' permission.
During the meeting, the regulator also fined Gateway Equity Resources Tk1 lakh for violating securities laws. It also issued a warning to Eastern Shares and Securities Limited for violating securities laws.