2024-02-19 18:30:12
Regulatory body Bangladesh Securities and Exchange Commission (BSEC) has taken the initiative to protect the whistleblowers of various manipulations and irregularities in the capital market. In continuation of this, it has been decided to form a committee with the aim of formulating the necessary regulations related to disclosure of information related to the capital market and providing protection to the information disclosers. Basically, the commission has taken such a decision to ensure transparency and accountability by reducing irregularities and corruption in the capital market.
According to BSEC sources, an order in this regard has been issued recently.
According to BSEC sources, the commission has taken such a decision as a new strategy to catch any kind of manipulation by the companies. Regulations will be enacted to protect any company-related person who is found guilty of corruption. The committee formed for this purpose will scrutinize and see how this policy can be implemented in Bangladesh. The related committee will also verify whether other countries of the world have this regulation or not.
According to the order issued by the BSEC, a committee of six members has been formed to frame the necessary regulations regarding disclosure of information related to the capital market and providing protection to information disclosers. The members of the formed committee are – Director of BSEC. Abul Kalam, Additional Director Sheikh Md. Lutful Kabir, Additional Director Mohammad Siddiqur Rahman, Additional Director Mohammad Nazrul Islam, Deputy Director Ziaur Rahman and Assistant Director Touhidul Islam Saddam.
The formed committee has been instructed to submit a report on the necessary regulations related to disclosure of information related to the capital market and providing protection to information disclosers within the next 15 days.
It is known that the commission is working to provide protection to the free disclosure of information related to the capital market and the disclosure of information. BSEC often receives various complaints of irregularities and corruption from various companies listed in the capital market. And BSEC collects various data to check the truth of those complaints in order of importance. The Commission feels it is important to ensure the protection of those who provide information related to complaints to BSEC, formally or informally. Therefore, BSEC has decided to frame the necessary regulations regarding providing protection to whistleblowers. Apart from this, the market surveillance and intelligence department of BSEC is working to bring the irregularities and corruption in the companies listed in the capital market under surveillance at the initial stage. BSEC believes that if this decision is implemented, the transparency and accountability of the capital market will be ensured.
When asked about this, Executive Director and Spokesperson of BSEC Mohammad Rezaul Karim told RisingBD, “A committee has been formed to formulate necessary regulations related to disclosure of information related to capital market and providing protection to information disclosers. The constituted committee has been asked to submit the report within the stipulated time.