Rumours spread over margin rules, BSEC urges investors not to panic
Even after the rules are approved, stakeholders will be given sufficient time to adjust with various legal requirements, says BSEC Spokesperson Abul Kalam
The Bangladesh Securities and Exchange Commission (BSEC) has urged investors not to panic amid rumours surrounding the finalisation of the amended margin loan rules, saying that a vested group is attempting to destabilise the market.
Bangladesh Securities and Exchange Commission (BSEC) Spokesperson Abul Kalam, in a conversation with The Business Standard today (20 October), said the new rules are set to be finalised after taking into account the opinions and recommendations of all stakeholders in the capital market.
Last week, stocks continued their downward trend amid anxiety over the finalisation of the amended margin loan rules. On Sunday, the first trading session of the week, DSEX lost 75 points amid shares selling-offs, but today, the index bounced back by 67 points.
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Abul Kalam further said, "Even after the rules are approved, stakeholders will be given sufficient time to adjust with various legal requirements."
He further noted that no stakeholder or investor will be put at risk.
"Despite that, a group is trying to influence the market by spreading rumours. The commission is investigating who is influencing the market, and actions will be taken in accordance with the laws," he added.
According to commission sources, the new rules are at the final stage of preparation and will be approved after receiving recommendations from the capital market taskforce and relevant stakeholders. Once approved, the rules will be published, with a six-month to one-year transition period likely to be allowed for implementation in some cases.
Highlighting the commission's commitment to finalising the rules, Kalam said, "The process is at its final stage. Many of the recommendations from stakeholders have been incorporated, while some of the proposals from the taskforce have not been included."
"The commission is focusing on ensuring good governance and transparency in the market," he added. "Ensuring compliance is crucial to restoring confidence and transparency in the capital market."
