FE Report
The securities regulator Tuesday formed two sub-committees including major stakeholders of the capital market to formulate the rules of Exchange Traded Fund (ETF), officials said.
The sub-committees were formed at a meeting held at the office of Bangladesh Securities and Exchange Commission (BSEC).
The representatives of both the bourses, Central Depository Bangladesh
Limited (CDBL), Bangladesh Merchant Bankers Association (BMBA) and Asset
Management Companies (AMCs) attended the meeting chaired by BSEC
commissioner Prof Helal Uddin Nizami.
The ETF is similar to an open-end mutual fund (MF) which is normally issued under the Collective Investment Scheme (CIS).
The regulatory move came following the proposal of Dhaka Stock Exchange (DSE) which will launch new products such ETF to increase market diversification.
According to Tuesday's decision, chief regulatory officer of Dhaka Stock Exchange (DSE) A.K.M. Ziaul Hasan Khan has been made the convener of the committee which will review the policy related matters of the ETF.
Another sub-committee, headed by CDBL deputy managing director Shuvra Kanti Chowdhury, will review operation related matters to be included in the rules of ETF.
Finally a BSEC committee, earlier formed to formulate the draft of ETF rules, will submit its report to the commission on as to how the rules can be formulated to launch the ETF.
The securities regulator Tuesday also formed two separate bodies to probe into the 'unusual' price hike of Northern Jute Manufacturing Company and Alltex Industries observed recently.
The body comprising BSEC deputy director Md. Fakhrul Islam and BSEC Assistant Director Md. Iqbal Hossain will look into the unusual price hike of Northern Jute Manufacturing Company.
Another body comprising BSEC Deputy Director Mollah Miraz-uz Sunnah and BSEC Assistant Director Md. Rakibur Rahman will probe into the unusual price hike of Alltex Industries.
Both the bodies have been asked to submit their report within 15 working days.
According to DSE website, the shares of Alltex were traded at Tk 24 on December 18 last and rose 50 per cent or Tk 12 to close at Tk 36 on January 12, 2015.
And the shares of Northern Jute Manufacturing Company were traded at around Tk 142 on November 30, 2014. The company's share price rose around 106 per cent as on January 13 (yesterday).
The securities regulator Tuesday fined Hillcity Securities, a member of Chittagong Stock Exchange (CSE), Tk 0.7 million for breaching margin rules.
Meenhar Securities, a member of Chittagong Stock Exchange (CSE), has also been fined Tk 0.7 million for breaching securities rules.
The decisions were taken at a commission meeting held at BSEC office.
At Tuesday's meeting the regulator has also extended the deadline up to January 31 next from January 15, 2015 to express interest to be included in BSEC auditors' panel.
mufazzal.fe@gmail.com
The ETF is similar to an open-end mutual fund (MF) which is normally issued under the Collective Investment Scheme (CIS).
The regulatory move came following the proposal of Dhaka Stock Exchange (DSE) which will launch new products such ETF to increase market diversification.
According to Tuesday's decision, chief regulatory officer of Dhaka Stock Exchange (DSE) A.K.M. Ziaul Hasan Khan has been made the convener of the committee which will review the policy related matters of the ETF.
Another sub-committee, headed by CDBL deputy managing director Shuvra Kanti Chowdhury, will review operation related matters to be included in the rules of ETF.
Finally a BSEC committee, earlier formed to formulate the draft of ETF rules, will submit its report to the commission on as to how the rules can be formulated to launch the ETF.
The securities regulator Tuesday also formed two separate bodies to probe into the 'unusual' price hike of Northern Jute Manufacturing Company and Alltex Industries observed recently.
The body comprising BSEC deputy director Md. Fakhrul Islam and BSEC Assistant Director Md. Iqbal Hossain will look into the unusual price hike of Northern Jute Manufacturing Company.
Another body comprising BSEC Deputy Director Mollah Miraz-uz Sunnah and BSEC Assistant Director Md. Rakibur Rahman will probe into the unusual price hike of Alltex Industries.
Both the bodies have been asked to submit their report within 15 working days.
According to DSE website, the shares of Alltex were traded at Tk 24 on December 18 last and rose 50 per cent or Tk 12 to close at Tk 36 on January 12, 2015.
And the shares of Northern Jute Manufacturing Company were traded at around Tk 142 on November 30, 2014. The company's share price rose around 106 per cent as on January 13 (yesterday).
The securities regulator Tuesday fined Hillcity Securities, a member of Chittagong Stock Exchange (CSE), Tk 0.7 million for breaching margin rules.
Meenhar Securities, a member of Chittagong Stock Exchange (CSE), has also been fined Tk 0.7 million for breaching securities rules.
The decisions were taken at a commission meeting held at BSEC office.
At Tuesday's meeting the regulator has also extended the deadline up to January 31 next from January 15, 2015 to express interest to be included in BSEC auditors' panel.
mufazzal.fe@gmail.com
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