Home ›› 10 Feb 2023 ›› Stock
The Dhaka Stock Exchange (DSE) has fired four officials of its market operations department due to their alleged involvement in misleading stock investors by publishing false corporate earnings information on the bourse’s website.
The decision came at a time when listed companies were publishing their October-December quarter’s financial reports to let investors know their business updates.
The officials whom the capital bourse dismissed also include Mohammad Roni Islam, who was serving the bourse as head of market operations.
The three remaining sacked officials were Kamruzzaman, Humayun Kabir, and Rakibur Rahman— all from the same department.
M Shafiqur Rahman, deputy general manager of the Dhaka Stock Exchange (DSE), confirmed the matter to The Business Post.
Several other DSE sources having knowledge with the matter said the punished officials had been collaborating with market manipulators, and as part of that move, they had distorted price-sensitive information of few companies.
Sensing the manipulation, the authorities of the prime bourse hurriedly corrected the corrected information which was distorted previously.
As per securities rules, all listed companies must publish their quarterly as well as annual financial reports through stock exchanges to let investors know about their business performance.
Eastern Cables Ltd and Beach Hatchery Limited were among the few companies of which price-sensitive information had been distorted, according to DSE sources.
