10 December 2019 09:09 am
The Colombo Stock Exchange (CSE) has suspended the trading activities of equities broker Bartleet Religare Securities (Pvt.) Ltd (BMS), for one day.
“In terms of Rule 11.23.8 (1) (C) of Stockbroker Rules of the Colombo Stock Exchange (CSE), the board of directors of the CSE has decided to prohibit BMS from carrying out purchase of securities on the Automated Trading System of the CSE on behalf of its clients and own account on Tuesday, December 10, 2019,” a CSE communiqué said.
Even though the heading of the communiqué read “Disciplinary actions taken against the stockbroker firm Bartleet Religare Securities (Pvt.) Ltd”,
it did not mention the offence committed by the stockbroker firm for the suspension. Rule 11.23.8 (1) (C) of Stockbroker Rules of the CSE allows to impose prohibitions on stockbroker firms from carrying out purchases and/or sale of securities on the Automated Trading System on behalf of its clients and/or in its own account, for a time period determined by the CSE board.