The Bangladesh Securities and Exchange Commission on Monday declined to consider a Dhaka Stock Exchange’s proposal to reduce Trading Right Entitlement Certificate holders’ annual fees. The capital market regulator informed the DSE its decision while holding a meeting with the prime bourse, BSEC officials told New Age. As per the demutualisation scheme approved by the capital market regulator, TRAC-holders annual fees were set at Tk 50,000.
The DSE, following requests from the TRAC-holders, sought permission from the capital market regulator in this regard.
The commission rejected the proposal as it is conflicting with the demutualisation scheme, said a BSEC official.
‘The commission also asked the bourse to check legal aspects before placing any proposals to the commission,’ he said.
‘The meeting was as a part of the commission’s regular interaction with the bourse,’ DSE managing director Swapan Kumar Bala told reporters after the meeting.
‘The way of upholding public interest while making any business-related decision and if any business decision of the bourse conflicts with the public interest were also discussed at the meeting’ said Swapan.
The meeting led by BSEC chairman M Khairul Hossain also discussed about different demutualisation-related issues.
BSEC commissioners Amzad Hossain, Arif Khan and Md A Salam Sikder, and DSE chairman Siddiqur Rahman Miah, independent directors Ruhul Amin and M Kaykobad were present at the meeting.
-With New Age input
