BSEC wants integrated platform for listed firms
The stock market regulator directed the stock exchanges to launch an integrated online data-gathering, information submission and dissemination platform in order to streamline the activities of listed firms.
The commission issued an order in this regard on Monday and ordered exchanges to implement it immediately.
"We are working on it thoroughly so that people can get full benefits of digitisation easily," said Kazi Sanaul Hoq, managing director of Dhaka Stock Exchange.
"We will complete our works within the time the regulator has set for us."
Bangladesh Securities and Exchange Commission (BSEC) has asked the stock exchanges to notify all listed companies and issuers of securities and mutual funds about the provisions of this order within 15 working days.
BSEC also asked the stock exchanges to submit a report to the commission about the commencement of the digital submission and dissemination platform.
According to the directive, listed companies would be allowed to submit any kind of information, including applications, shareholding reports, declarations, corporate actions, financial disclosures, publication and dissemination of price sensitive information and material information, through the platform.
Both the stock exchanges must keep records of all submissions and information in both soft and hard copies in such a way that subsequent use or verification can be undertaken by the commission, according to the order.
The stock exchanges must prepare and submit a summary of the shareholding position to the commission on a monthly basis along with their findings and any non-compliance, if any, individually within the following month.
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