BSEC Fines Haji Ahmad Brothers Securities Tk 10 Lakh Over CCA Deficit

The Bangladesh Securities and Exchange Commission (BSEC) has imposed a financial penalty of Tk 10 lakh on Haji Ahmad Brothers Securities Limited. The punitive action was taken due to a massive fund deficit found in the brokerage house's consolidated customer account (CCA) alongside direct violations of securities laws.

According to the inspection findings provided by the Dhaka Stock Exchange (DSE), a significant financial shortfall was uncovered within the operations of Haji Ahmad Brothers Securities Limited. Data from June 13, 2022, revealed that the institution's consolidated customer account suffered from a staggering deficit amounting to Tk 2 crore 9 lakh 50 thousand 682.

Furthermore, regulatory monitoring exposed that the financial irregularities within the brokerage firm were not isolated to the 2022 inspection. Investigations confirmed that negative balances and persistent account deficits continued to remain present on multiple dates throughout the months of July, August, and September in the year 2024.

Additional violations uncovered during the regulatory scrutiny involved improper banking practices associated with the firm's financial accounts. Specifically, investigations determined that cash was withdrawn directly from the consolidated customer account operated through the City Bank, an action that constitutes a clear breach of established operational rules.

Despite subsequent moves where Tk 30 lakh was transferred to regularise portions of the discrepancy, the cumulative breaches prompted formal regulatory intervention. Consequently, the Bangladesh Securities and Exchange Commission has formally directed Haji Ahmad Brothers Securities Limited to deposit the entire Tk 10 lakh fine within a strict timeframe of 30 days.