The capital market reform task force has decided to form a consultation group with experts for their suggestions on different issues.
The task force made the statement in a press release issued by it on Monday after holding a meeting with the DSE Brokers Association of Bangladesh (DBA).
The recently formed task force said that it would review past studies, surveys and investigation of reports of past episodes, carried out in due course.
The DBA at the meeting submitted a number of proposals, including making the country鈥檚 stock exchanges more independent and a review of the exchange demutualisation laws and schemes.
The meeting was held at the Bangladesh Securities and Exchange Commission building at Agargaon in the capital Dhaka.
The DBA also proposed that the task force review, evaluate and redefine the responsibilities of all stakeholders, including the stock market regulator and the intermediaries.
Saiful Islam, president of the DBA, told 抖阴精品, 鈥楾he聽 BSEC is a regulator, it should not have any concerns over market
momentum. That is the duty of the stock exchanges. In the meeting, we said that the bourses should be more functional and independent.鈥�
鈥楽tock exchanges should be the final authority on initial public offerings. Also, the Dhaka Stock Exchange should be more proactive in market monitoring, supervision and oversight,鈥� he added.
On October 7, the BSEC formed the five-member task force to prepare a report on necessary reforms in the country鈥檚 stock market, planning and recommendations for raising confidence of investors and ensuring good governance in the capital market.
According to a BSEC statement, the task force will work with 17 issues, including recommendation for formulation of penal code and guidelines regarding market manipulation, prosecution of various irregularities and rationalisation of penalties.
It will work to formulate recommendations on strengthening BSEC鈥檚 institutional capacity, internal governance, necessary initiatives for protection of data and increasing efficiency of employees of the commission.
Moreover, it will work to formulate a guideline and necessary recommendations regarding collaborating with stakeholders to protect the investors鈥� interest and increase their confidence in the market.
