Body formed to investigate rumours on stock markets

Bangladesh Securities and Exchange Commission (BSEC) today formed a four-member committee to investigate the recent rumours on prediction of share prices and undisclosed information about its listed companies through social media platforms.

The committee headed by Rajib Ahmed, a director of BSEC, has been asked to complete the inquiry and submit its report by the next 30 working days, the stock market regulator said in an order on Monday.

The move came as shares of several companies have risen abnormally recently due to the rumours.

It is necessary, in the public interest, to conduct an enquiry against the persons, who are directly and indirectly involved in spreading rumours regarding the prediction of price and undisclosed information through social media including Facebook, WhatsApp, Linkedin, and YouTube from January 2021, according to the order.

"We are investigating social media groups and pages, who were engaged in spreading rumours," said Rejaul Karim, spokesperson of the BSEC.

Strong steps would be taken against the people involved in spreading the rumours, he said.