74 actions taken, 120 remain pending
The Bangladesh Securities and Exchange Commission took 74 enforcement actions against different companies, brokerage houses and individuals in January-March of this year while the regulator enforced only 14 actions in October-December last year.
BSEC sources said the improvement in the enforcement actions was achieved with the launch of the commission’s own surveillance software in December.
The sources said 120 enforcement actions were still pending as a number of companies, brokerage houses and individuals had violated different securities related laws.
‘Considering the present market condition the commission is not going for all-out enforcement actions as each and every decision of the commission affects the investors’ sentiment,’ a BSEC senior official told New Age.
Before the launch of its own surveillance software, the commission had to depend on the Dhaka Stock Exchange and the Chittagong Stock Exchange for share transactions related information.
On December 17 last year, the BSEC launched its own surveillance software in a bid to monitor the stock market transactions effectively and instantly. The surveillance software detected 2,974 suspicious transactions in just a 30-minute run on the opening day and suggested that 247 transactions required investigation.
‘The BSEC’s new surveillance software is generating many alerts each trading session and we are conducting further investigation for suspicious transactions,’ the BSEC official said.
According to the BSEC data, in January this year the commission took 34 enforcement actions against different companies, brokerage houses and individuals for violation of securities laws and irregularities in share transactions.
Of the twelve enforcement actions by the BSEC in February, eight was taken due to unusual trading of shares and violation of different securities related laws for which the BSEC fined four companies Tk 1 lakh each and issued warning to four other companies.
The capital market regulator in March took 29 enforcement actions against different individuals, brokerage houses and companies.
Of them, 15 enforcement actions were taken against different brokerage houses and individuals due to irregularities in share trading.
The BSEC fined the 15 brokerage houses and
the individuals by Tk 1 lakh each.
-With New Age input
