The stockbrokers are Premier Leasing Securities Ltd, International Leasing Securities Ltd, Fareast Stocks and Bonds Ltd and PFI Securities Ltd.
TBS REPORT
19 October, 2026, 09:50 pm
Last modified: 19 October, 2026, 09:58 pm
The Bangladesh Securities and Exchange Commission (BSEC) has given seven capital market subsidiaries of nine financial institutions, which face licence cancellation proceedings by Bangladesh Bank, until 30 April 2027 to address financial and regulatory shortcomings.
The seven companies are four stockbrokers, two merchant bankers and one asset management company. They have been asked to make up shortfalls in net assets and comply with securities laws and regulations.
The stockbrokers are Premier Leasing Securities Ltd, International Leasing Securities Ltd, Fareast Stocks and Bonds Ltd and PFI Securities Ltd.
The merchant bankers are IL Capital Ltd and GSP Investment Ltd. The asset management company is Prime Finance Asset Management Company Ltd.
The commission announced the decision at its regular meeting today (19 October), according to a press release.
Meanwhile, the BSEC has decided to allow four other capital market subsidiaries of the financial institutions to continue their business operations. These include two stockbrokers, Premier Leasing Securities Broking Ltd. and AVIVA Equity Management Ltd., and two merchant bankers, PLFS Investments Ltd. and Prime Finance Capital Management Ltd.
According to the commission's assessment, these four companies have adequate net assets and satisfactory positions on several evaluation indicators, supporting the decision to continue their operations.
Separately, FAS Capital Management Ltd. had previously been given until 31 December, 2026, to address its net asset shortfall and ensure compliance with the relevant regulatory requirements.
The commission has thus taken separate decisions on the 12 capital market subsidiaries under the nine financial institutions facing licence cancellation proceedings. Four companies have been allowed to continue operations, seven have received additional time to address deficiencies, and the previously granted deadline for FAS Capital Management Ltd. remains in place.
Stockbrokers, merchant bankers and asset management companies play important roles in securities trading, investment services and asset management. Ensuring their financial soundness and compliance with regulatory requirements is therefore important for the proper functioning of the capital market.
The commission's decision does not provide details of the further measures that may be taken against the companies if they fail to address the deficiencies within the stipulated deadlines.