Bangladesh Securities and Exchange Commission (BSEC) Commissioner Khondoker Rashed Maqsood has said all ongoing reforms in the country’s capital market will be completed within the next two months.
He made the remarks on Wednesday during a meeting with senior executives of the country’s top brokerage houses at the BSEC Bhaban in Agargaon.
“The key areas of reform include margin rules, mutual fund regulations, IPO regulations, and updates to corporate governance guidelines,” Maqsood said, adding that the BSEC is working to modernise these frameworks.
He emphasised that the reforms are not limited to updating rules, but also aim to ensure transparency and accountability by addressing past irregularities in the market.
“In all areas of reform, we have taken reasonable and rational decisions. All these tasks will be completed within the next two months,” he said.
The commissioner also assured that the BSEC is addressing major issues, including negative equity, and solutions will be implemented soon.
“Developing the capital market requires collective effort. We must not give up. A culture of accountability must be established in the market,” he urged the brokerage houses.
The meeting included detailed discussions on the current state of the capital market, ongoing reform initiatives, and the responsibilities of stakeholders.
Representatives of top brokerage firms stressed the importance of enhancing market dynamism, preventing manipulation, resolving negative equity issues as planned and safeguarding investors’ interests amid bank and financial institution mergers or closures.
They also highlighted reopening online BO account registration, ensuring policy continuity, implementing e-KYC, listing fundamentally strong companies, direct listing of high-quality private firms, and taking necessary measures for unpaid declared dividends of listed companies.
Discussions between the BSEC and brokerage houses also covered ensuring good governance in the capital market, capacity building at all levels of market regulation, including the regulator, exchanges, and CDB, reviewing the Exchanges Demutualization Act 2013, curbing rumours and making CCBL more effective.