The Securities and Exchange Commission (SEC) and the Dhaka Stock Exchange (DSE) Tuesday reached a consensus on resolving their recent ‘misunderstanding’ and working jointly to accelerate their mutual coordination for the sake of the capital market and the investors.
The decision was taken at a bilateral meeting at the SEC office, where, among others, SEC Chairman Professor M Khairul Hossain and DSE President Rakibur Rahman were present.
The row between the regulator and the prime bourse surfaced recently following a DSE investigation, which claimed that the earning per share (EPS) of United Airways will be -Tk 2.19, as the company did not show deferred tax in its revenues.
The SEC also formed a committee to look into the issue of United Airways Monday.
Besides, the DSE expert panel recently made observation on the prospectus of some companies, including Orion Pharma.
The DSE claimed that the SEC approved the IPO proposal of Orion Pharma without giving a chance to the prime bourse to make observation on the company prospectus.
Afterwards, the SEC sought clarification from the DSE to clarify why the board of the bourse discussed the issue of Orion Pharma even after the regulator’s approval. The regulator also made clarification on the approval of its IPO.
The SEC expressed its concern over public disclosure of the issues, which created distance between two organisations.
“The meeting to resolve misunderstandings is held in a cordial mood. Both the sides have reached a unanimous decision to work jointly,” an SEC member told the FE.
He said the SEC and the DSE have agreed to avoid such ‘misunderstanding’ in future for the sake of the capital market and the investors.
“We will try to reduce the gap that originated recently,” he added.
DSE President Rakibur Rahman said, “The SEC is the regulator of the capital market, and we should work under the leadership of the securities regulator.”
“The regulator can seek any clarification from the bourse. In the friendly discussion, we have agreed to work jointly in future,” he told the FE.
Source: The Financial Express, 21 November 2012