The Bangladesh Securities and Exchange Commission (BSEC) Monday said a photo card circulating on social media, carrying purported remarks by its chairman about a fall in the stock market, is false and misleading.

In a press release issued Monday, the regulator said the matter had come to its notice that a photo card containing statements about the capital market downturn was being spread online in the name of BSEC Chairman Masud Khan, along with various false and misleading claims.

"The commission clearly states that the statements in the photo card circulated in the chairman's name are not correct, and the chairman has made no such remarks," the press release said.

The BSEC urged the public and investors not to believe or share any statement, photo card or information on social media without verifying its authenticity.

It said everyone has a responsibility to refrain from spreading rumours, false, misleading or baseless information, in order to maintain normal market activities, protect investors' interests and preserve public confidence in the capital market.

Such information can create misconceptions about the market and negatively influence investors' decisions, it added.

The commission also asked all concerned to verify the authenticity and reliability of any statement, photo card or information circulated in the name of the BSEC chairman, commissioners, officials or other related persons before spreading it, and to refrain from circulating false and misleading information.

The BSEC said it remains committed to the development, transparency and stability of the capital market and to safeguarding investors' interests, and called on investors and all stakeholders to act responsibly and cooperate to that end.