There has been a change in the leadership of the stock market regulator Bangladesh Securities and Exchange Commission (BSEC). Through this, Khandaker Rashed Maqsood has kept the commission busy in punishing since he took office as BSEC Chairman. He has fined various individuals and institutions Tk. 722 crore in 4 months. However, investors are constantly losing their investments due to this fine being imposed during a market downturn or at an untimely time. In the meantime, investors have lost Tk. 49 thousand crore in the 4 months of the commission under Maqsood’s leadership.
A review of the decisions taken in the BSEC commission meetings during the interim government’s tenure has shown that during this period, at least 12 companies listed on the stock market have been fined and various individuals and institutions have been fined. The BSEC has found the involvement of the discussed manipulator, Deputy Registrar of the Cooperatives Department, Abul Khair (Hiru), behind almost every share manipulation. As a result, Hiru’s family and those concerned have been fined Tk. 721 crore 76 lakh.
Investors did not take the commission’s decision well in the stock market downturn. As a result, the DSE’s DSEX price index fell by 673 points from the day the new commission was appointed to Saturday (December 14). This resulted in a decrease in market capitalization or investors losing their investment of Tk. 48,582 crore.
