The Bangladesh Securities and Exchange Commission (BSEC), in its pursuit of enhancing oversight and regulatory measures, has issued directives to the Dhaka Stock Exchange (DSE). This move follows a series of decisions taken during a meeting between the BSEC and DSE management on July 19. The meeting, attended by various departments of the BSEC including the Securities Market Surveillance, Surveillance and Enforcement, and Registration and Licensing departments, was chaired by BSEC Commissioner Md. Abdul Halim. Several significant decisions were reached during the meeting, primarily aimed at effective implementation.
According to the directives of the BSEC, the Dhaka Stock Exchange is required to correspond with the Surveillance, Monitoring, and Risk Management Division of the DSE for sending official letters, seeking clarifications or assistance on policy-related matters. This initiative is aimed at fostering a seamless communication process for prompt follow-up and response.
The DSE must provide the MIA Division with a list of officers from the relevant desks within the DSE who are engaged in MIA Division activities. In the event of changes in officer responsibilities within the desks, the DSE should promptly send the updated information to the MIA Division according to its guidelines.
The approved representatives’ live database, stored within the DSE, is accessible exclusively for internal users of the organization. This database needs to be transformed for public information dissemination through the DSE website.
With the aim of ensuring the security of investments made by stakeholders and safeguarding securities held in beneficiary owner (BO) accounts, the Bangladesh Securities and Exchange Commission (BSEC) has issued a directive regarding the operation of non-modifiable back-office software by brokers and dealers. Despite the deadline of May 31 for submitting progress reports on this matter to the BSEC, no submission had been made. Consequently, instructions have been given to submit this report to the BSEC within the month of August.
The BSEC and DSE will collaboratively address matters concerning defaulters and unsettled tech holder companies. If necessary, communication and resolution efforts will be made with stakeholders, including the judiciary and the Anti-Corruption Commission, to ensure solutions through protection and diligent action. This decision was made to emphasize the pursuit of resolution through communication and accountability.
Both the BSEC and the DSE will work collectively on issues concerning defaulters and unruly tech-holding companies. The resolution path will involve interaction and resolution efforts with stakeholders, including courts and the Anti-Corruption Commission, in order to ensure protection and accountability.
For the comprehensive monitoring of track holders as unified customer accounts, instructions have been given to the DSE to provide access to the relevant personnel of the MIA Division through the utilized online module for constant surveillance.
