The Bangladesh Securities and Exchange Commission has been upgraded to ‘A’ category from ‘B’ category after 18 years of its membership of the International Organisation of Securities Commissions, BSEC officials said on Saturday. The IOSCO is a Madrid-based association of securities market regulators across the globe with 182 members. ‘The IOSCO on Friday night informed us about the elevation of the BSEC’s membership status to ‘A’ category,’ BSEC chairman M Khairul Hossain said at a briefing in the city on Saturday.
With the upgradation, Bangladesh will enjoy voting power in the IOSCO’s forum, he said.
Khairul said the upgradation was a result of the recent capital market reforms including demutualisation of the bourses done by the BSEC with government’s assistance.
‘The BSEC will now get international help in taking enforcement actions and will be entitled to assist other capital market regulators,’ he said.
He also said that the upgradation would also allow the BSEC to compete in different high official posts and to take part in different policy making bodies of the IOSCO.
BSEC commissioners Helal Uddin Nizami, Amzad Hossin, Arif Khan and A Salam Sikder were also present at the briefing.
-With New Age input
