BSEC seeks information from CMSF

The stock market regulatory body, the Bangladesh Securities and Exchange Commission (BSEC), has asked the Capital Market Stabilization Fund (CMSF) management committee to send information on undistributed dividends of listed companies.

A letter has been sent to the chief operating officer of the fund management committee to collect information according to subsections 1 to 4 of Capital Market Stabilization Fund number 9 within the next 10 working days.

It has been said to identify the unidentified amount redirected as cash dividend and collect each non-compliant company’s explanation with regard to non-transfer to the CMSF within the stipulated deadline and submit a report containing a summary of each company’s explanation, along with all relevant documents.

The Capital Market Stability Fund (CMSF) was formed out of the undistributed dividends of listed companies to increase the money supply in the capital market. This came into effect through the Gazette on July 1, 2021.