• Wednesday, Sep 26, 2018
  • Last Update : 10:39 am

BSEC fines Keya Cosmetics directors

  • Published at 09:42 pm July 24th, 2018
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The Bangladesh Securities and Exchange Commission office in Dhaka Syed Zakir Hossain/Dhaka Tribune

The Keya Cosmetics directors are - Abdul Khaleque Pathan, Khaleda Parvin, Masum Pathan, and Tansin Keya, according to the 2016-17 annual report of this company

Bangladesh Securities and Exchange Commission (BSEC) has fined each director of Keya Cosmetics Limited, apart from the independent and nominee directors, for a violation of securities laws.

The decision was taken at a BSEC meeting presided by its Chairman M Khairul Hossain on Tuesday.

A press release from the commission said despite having been warned over previous failures, Keya Cosmetics failed to submit its financial statement for the first quarter of this financial year (July – September 2017) on time.

For this violation, each director of the company was fined Tk1 lakh.

The Keya Cosmetics directors are - Abdul Khaleque Pathan, Khaleda Parvin, Masum Pathan, and Tansin Keya, according to the 2016-17 annual report of this company.

Four securities houses warned

The securities regulator has issued warnings to three securities houses for not submitting their financial audit reports within the scheduled time. The houses are Unique Share Management Ltd, AB and Company Ltd, and Alliance Securities and Management Ltd.

Meanwhile, ICB Capital Management Ltd has been warned by the BSEC for a separate violation of securities laws, and the commission has cancelled their 18,582 rights shares applications.

CAPITAL Padma PF Shariah Unit Fund approved

BSEC has approved the prospectus for the open-ended CAPITAL Padma PF Shariah Unit Fund. The initial size of the CAPITAL Padma PF Shariah Unit Fund will be Tk10 crore, with face value of each unit Tk10.

Padma Islami Life Insurance Company Ltd Employee Provident Fund is the entrepreneur of the fund. Investment Corporation of Bangladesh is its trustee and custodian and Capital Asset Management is the asset manager.