BSEC to use other countries' experience to reduce manipulation

The Bangladesh Securities and Exchange Commission (BSEC) would like to use the experience of other countries to reduce manipulation in the stock market, especially what types of sanctions are in place in the Asia Pacific region to reduce fraud.

A gang is currently trying to manipulate in various ways, but if the stock market is completely automated, manipulation is likely to decrease. BSEC is constantly working on it, said BSEC Executive Director Saifur Rahman at a press conference on the International Organisation of Securities Commissions (IOSCO) Asia Pacific region at the BSEC building on Monday.

Automation is being done in BSEC to identify the gang of manipulators so that it can be identified at the beginning and those involved in it can be brought under the law and punished, he added.

At the conference, BSEC Executive Director Mohammad Rezaul Karim said that the floor price will be lifted if the health of the stock market is good. Transactions are currently decreasing as a result of introducing the floor price. However, as investors have cooperated, the share prices of good companies have not fallen.

He said that the current state of the capital market, and laws and measures taken against the manipulation cycle of other countries will be detailed in the meeting of the Asia Pacific Regional Committee (APRC). Bangladesh will take necessary measures from the outcome of the meeting.

The BSEC executive director claimed that the punitive measures and fines that have been imposed in the capital market of Bangladesh in the last two years are much more than those in other countries.