The Bangladesh Securities and Exchange Commission on Monday unveiled its new logo as the name of the capital market regulator was changed by an amendment last year.
The logo was unveiled at a regular meeting of the commission presided over by its chairman M Khairul Hossain, a BSEC press release said.The name of the Securities and Exchange Commission was changed to Bangladesh Securities and Exchange Commission when the amendment to the Securities and Exchange Commission Act 2012 was passed in the parliament on November 27 last year.
The amendment gave the BSEC the power to ask for information from financial institutions. Prior to this, only the central bank, the Anti-Corruption Commission and the courts enjoyed the power.
The power of the commission for trade suspension has been extended to 30 days from the existing 14 days by the amendment.
The act says that a penalty imposed by the commission cannot be challenged until 15 per cent of the penalty is deposited with the bank nominated by the regulator.
The designation of the commission members was also changed as ‘commissioners’ while their tenure was increased to four years from the existing three years.
-With New Age input
