BSEC to go tough against any kind of \'unlawful\' activities [ STOCK & CORPORATE ] 12/01/2017
BSEC to go tough against any kind of 'unlawful' activities
Sharp rises in indices, turnover
The securities' regulator would go tough against any kind of 'unlawful' activities in an effort to facilitate the 'normal' movement of the country's capital market.
Bangladesh Securities and Exchange Commission (BSEC) Wednesday took the stand in an urgent meeting attended by top officials including the chairman and all commissioners.

The executive officers also attended the meeting held at the BSEC office.The regulatory 'concern' came following some sharp rises in indices and turnover of the capital market.

At Wednesday's meeting, the BSEC asked its departments concerned to conduct close monitoring over abnormal price hikes of weak shares and mismatches in margin loan management, among others, so that anything artificial cannot influence the market. 

"The regulator instructed its departments concerned to indentify unlawful activities, if any, by checking the alerts of surveillance software," a top BSEC official told the FE after the meeting.

The surveillance software installed by the securities' regulator gives alerts on abnormal transactions executed violating the rules.

The BSEC official said the departments concerned will 'closely' monitor the mismatch of margin loan management, price hikes of junk shares and any kind of artificial effort that may influence the market's movement.

"There is no problem of allowing the market's upward trend without any kind of unlawful activities. But any violation of securities rules will be tackled strongly."
Another BSEC official said, the objective of holding Wednesday's meeting was to strengthen the existing system over market monitoring.

Since December 20 last, the Dhaka Stock Exchange (DSE) featured trading for 15 sessions.

Of 15 sessions, the DSEX rose for 14 sessions, except the minor correction of one session, and the DSEX rose 8.12 per cent or 402 points to close at 5333 points as of Wednesday.

The DSEX witnessed a sharp rise of 1.20 per cent or 62 points on Tuesday, whereas the key index went up by 1.07 per cent or 56 points on Wednesday.
Since December 20, the turnover also rose 82.76 per cent and closed at above Tk 17.04 billion on Wednesday.
 
 
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