Panel to probe stock market rumours

The Bangladesh Securities and Exchange Commission (BSEC) yesterday formed a four-member committee to investigate the recent rumours over sharing stock price predictions and undisclosed information about listed companies on social media platforms.

The committee, headed by Rajib Ahmed, a director of the BSEC, has been asked to complete the inquiry and submit a report within the next 30 working days, the BSEC said in an order signed by Ziaur Rahman, assistant director of the commission.

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

It is necessary, in the public interest, to conduct an inquiry 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, the BSEC said.

"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 added.