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Chief Financial Officer Jamil Ahmed Chowdhury has been fined Tk 10 lakh, while former Company Secretary Riaz Uddin Bhuiya and current Company Secretary Md Nazmul Hossain have each been fined Tk 5 lakh.

The commission said all fines must be deposited with the BSEC within seven days.

The regulator also decided that if any listed company’s board is restructured by any primary regulatory authority, the new board members must jointly hold at least 30 percent of the company’s shares. If this condition is not met, the company will not be allowed to issue bonus shares or raise capital through rights shares or similar instruments.

In another decision, the commission allowed ‘A’ category listed banks to maintain dividend accounts with their respective banks.