BI Report, Dhaka: As per an High Court order, the regulatory body Bangladesh Securities and Exchange Commission (BSEC) has formed an inquiry committee against one Mamun Azim and others for allegedly buying shares through insider trading and violating other securities laws.
An order in this regard was issued on Wednesday, BSEC officials said.
The commission has directed the committee to submit an investigation report in this regard within the next one week.
The members of the inquiry committee formed by BSEC are: Additional Director of BSEC Mohammad Emdadul Haque, Deputy Director Md Sirajul Islam and Dhaka Stock Exchange (DSE) Senior Manager Md Masud Khan.
The order issued by the BSEC states that the allegations of illegal, unlawful and dishonest action taken by the accused in the purchase of shares need to be investigated under the direction of the High Court.
The defendants violated insider trading and other securities laws in the case of the share purchase.
Therefore, an investigation committee was formed against the accused under Section 21 of the Securities and Exchange Ordinance, 1969 and Section 17 (a) of the Bangladesh Securities and Exchange Commission Act, 1993.
The formed inquiry committee will look into other allegations including share purchase through insider trading.
For this, BSEC and DSE officials were included in the investigation committee. The investigating officers will submit a report to the BSEC by February 15.
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