Dhaka, April 6 -- Brokerage firms have been granted an additional nine months to implement non-editable uniform back-office software from panel-listed vendors, aimed at preventing the misappropriation of investors' funds.
The Bangladesh Securities and Exchange Commission (BSEC) issued a letter on Tuesday, extending the timeline from 1 April to 31 December 2024, following a request from the DSE Brokers Association of Bangladesh.
The back-office software of a brokerage firm is where information on investors' money, shares, transactions, cash balance, and deposit balance is preserved.
The authorities undertook this initiative following complaints of investors' fund misuse by stockbrokers.
Tamha Securities, Banco Securities, and Crest Secur...