The Bangladesh Securities and Exchange Commission (BSEC), the capital market regulator, has decided to allow operations and grant time to clear deficits for 12 capital market subsidiary companies under 9 financial institutions that are currently undergoing Bangladesh Bank's license cancellation process.
This decision was made during a commission meeting of BSEC on Monday.
Following the meeting, the information was shared in a press release signed by BSEC executive director and spokesperson Md Abul Kalam.
According to the BSEC decision, several stockbrokers and merchant banks have been given until April 30, 2027.
Meanwhile, FAS Capital Management Limited has been granted until December 31, 2026, to resolve non-asset-related deficits and ensure compliance with necessary regulations.
The press release stated that several institutions, including four stockbrokers and two merchant banks, have compliance deficits under securities laws and regulations.
A stipulated time frame has been provided to ensure compliance with relevant regulations and registration certificate conditions for these entities.
The four stockbrokers named on the list are Premier Leasing Securities Limited, International Leasing Securities Limited, Fareast Stocks & Bonds Limited, and PFI Securities Limited.
The two merchant banks included under the decision are IL Capital Limited and GSP Investment Limited.
Additionally, Prime Finance Asset Management Company Limited has also been brought under this ruling.
On the other hand, the Commission has decided to keep operations active and address certain asset-related matters for two stockbrokers—Premier Leasing Securities Broking Limited and Aviva Equity Management Limited—as well as two merchant banks—PLFS Investments Limited and Prime Finance Capital Management Limited.
The Commission decided to maintain their non-asset and non-asset-related activities while also making decisions regarding certain valuations and asset matters.
Furthermore, FAS Capital Management Limited has been given a deadline of December 31, 2026, to clear non-asset-related deficits and achieve full regulatory compliance.
This decision by the BSEC regarding capital market-related entities operating under financial institutions undergoing license cancellation by Bangladesh Bank is viewed as a crucial step toward maintaining operations and regulatory compliance.
