BSEC extends area for opening brokerage branches in city corps

Staff Correspondent | Published: 00:00, Nov 29,2019

 
 

The capital market regulator, Bangladesh Securities and Exchange Commission, has allowed opening of brokerage house branches within the areas of the two Dhaka city corporations.

Before the issuance of the new directive, the brokerage houses could only open extension offices within 2 kilometers of their head office.

The BSEC made the decision at a commission meeting presided over by its chairman M Khairul Hossain on Wednesday.

The brokerage houses had been urging the regulator for many years to relax the restriction.

 After the Dhaka Stock Exchange shifted its head office to Nikunja from Motijheel and many brokerage houses bought spaces at the  office, the BSEC decided to relax the 2 kilometer limitation.

DSE officials said that the area extension will allow to the brokerage house to extend their businesses and to reach more investors.

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