I have just read the article 'Business people decry PLCs mandatory listing' on Feb 18 2008. http://www.thedailystar.net/story.php?nid=23863.
This SEC and its governing bodies have zero experience of stock market and how it operates. They are whimsical and arbitrary and make rules as they continue manipulating the market. They only serve the big investors and claim that they want to help common people.
The SEC has no authority on other companies that are not listed. They are going beyond their jurisdiction.