Home ›› 21 Feb 2023 ›› Stock
The Bangladesh Securities and Exchange Commission (BSEC), the securities regulator, is making efforts in an unstoppable manner to detect and thwart stock manipulations by adopting automation measures.
If any unscrupulous market activity is sensed, the regulator’s enforcement department using their advanced technological grips instantly crack down on racketeering circles, said Mohammad Rezaul Karim, executive director and spokesperson for the BSEC.
The BSEC official told this while speaking at a media briefing at the capital’s BSEC headquarters yesterday ahead of a two-day conference of the Asia Pacific Regional Committee (APRC) under the International Organization of Securities Commissions (IOSCO) to be held at a Dhaka hotel on Wednesday and Thursday.
Such a conference is going to be held for the first time in Bangladesh.
To ensure stock manipulators’ penalties, the regulator always continues to keep close monitoring to detect them and take prompt action by filing lawsuits against them with the relevant tribunal, the BSEC spokesperson stated.
Moreover, the stock regulator has also been adopting necessary legislative amendments to prevent wrongdoings from the country’s capital market and ensure severe actions against manipulators, he continued.
BSEC Executive Directors Mahbubul Alam and Saifur Rahman were also present at the media briefing.
The two-day conference of the Asia Pacific Regional Committee (APRC) of the International Organization under Securities Commissions (IOSCO) will mainly focus on investment behaviour and security challenges prevailing in the capital markets across the globe, said Mahbubul Alam.
The conference will comprise two meetings.
Both meetings will be chaired by Bangladesh Securities and Exchange Commission (BSEC) Chairman and IOSCO APRC Vice Chair Professor Shibli Rubaiyat-ul-Islam.
On Wednesday, the meeting with the supervisory director will take place from 9:30am to 12pm, while the meeting with the enforcement director will take place from 1:30pm to 4:00pm.
The second day’s programme will be inaugurated by APRC chair Shigeru Ariizumi. The conference will conclude with the APRC plenary meeting scheduled to be held that day.
Delegates from Bangladesh, India, Hong Kong, and Singapore will attend the Asia-Pacific Regional Committee (APRC) meeting to discuss various aspects of investment education and behaviour.
This meeting will cover topics such as regulatory technology, the supervision of online brokerage and advisory service providers, the use of third-party services in regulated institutions, and the impact of board quality on investor decisions.
The delegates will also discuss the various security challenges facing the stock market, including the detection of fraud and insider trading, market manipulation through sophisticated syndicates, and the impact of fake accounts on the market.
This meeting is aimed to find solutions to these issues and ensure a secure investment environment for all.
The conference will be attended by senior officials from the capital market regulatory agencies of several countries in the Asia Pacific region, including Australia, New Zealand, Singapore, Hong Kong, Japan, India, Malaysia, Thailand, Vietnam, Indonesia, Pakistan, and Nepal.
