Compliance key to capital market good governance: DSE boss

Compliance with laws and regulations is essential for establishing good governance in the capital market, Dhaka Stock Exchange (DSE) Managing Director ATM Tariquzzaman has said.

"There are many laws and regulations governing the capital market. If these laws and regulations are not properly followed, good governance in the stock market will not be ensured," he said.

The Dhaka bourse MD made the remarks at a two-day workshop on "Securities Related Laws" and "Effective Compliance of Securities Related Laws" for company representatives, authorised representatives and compliance officers, held at the Multipurpose Hall of the institution in the capital's Nikunja yesterday.

The workshop was organised with a view to ensuring proper implementation of "Vision 2041" by enhancing the institutional capacity, strengthening transparency and accountability, integrating good governance, and ensuring the proper use of resources of the DSE.

Tariquzzaman said it is very important to establish good governance and compliance with rules and regulations in every field — from brokers and dealers to track holders. "The Bangladesh Securities and Exchange Commission (BSEC) formulates laws and regulations as a regulatory body. The stock exchange and intermediary institutions have to follow these laws and regulations."

The image of the capital market depends on the skills of track holders and authorised representatives, he said. "As general investors come to them first, they are the gatekeepers of the capital market. They act as a bridge or coordinator between investors and the stock exchange."

Tariquzzaman said that it is the responsibility of all to comply with the monitoring and enforcement provisions of the law. If properly implemented, it will increase confidence and investor participation in the capital market, he said.

In response to various questions from track holders, the Dhaka bourse MD said that opinions have been sent to the BSEC on a number of rules and regulations, and there are also a number of proposals that will be sent to the commission for consideration with the stakeholders. "We will do whatever is necessary to develop the capital market. We will all work together to develop the capital market."

DSE Chief Regulator Officer Khairul Bashar Abu Taher Mohammed presented the keynote paper at the workshop conducted by General Manager Md Samiul Islam.