The Bangladesh Securities and Exchange Commission (BSEC) is taking steps to bring all securities-related laws under a single framework to ensure discipline and transparency in the capital market, said its Chairman Khondoker Rashed Maqsood.
Speaking at an event on Monday marking World Investor Week, the BSEC chief said the regulator has prioritised curbing market irregularities and malpractice since taking office.
“We are working to consolidate the BSEC Act of 1993 and the Securities Ordinance of 1969, along with other related rules,” he noted.
The chairman said an Inquiry and Investigation Committee was formed to probe past market scams, leading to 12 reports- of which actions have already been taken in seven cases.
However, enforcement in some instances, such as Best Holdings and Quest BDC, has been delayed due to pending court cases.
He urged government and judicial support to speed up the process. He added that the BSEC is reinforcing oversight of trustees, custodians, and asset managers to develop the mutual fund sector while ensuring accountability of independent directors in listed companies.
He added, “Many people and investors have deep interest in the capital market. If we can make this market free from fraud and ensure investor protection, its potential will be far-reaching.”
