SEC urges merchant bankers to help boost new shares supply

The Securities and Exchange Commission (SEC) has urged merchant bankers to encourage more firms to be listed in the stock markets, which can keep the market from overheating.

The regulator’s made the appeal Monday in a meeting with merchant bankers, requesting them to mount awareness programme among investors, too.

Chief executive officer Dhaka Stock Exchange Satipoti Moitraa and representatives of the Chittagong Stock Exchange and Merchant Bankers Association of Bangladesh were also present at the meeting, chaired by the SEC member Monsur Alam.

Anwarul Kabir Bhuiyan, executive director with the SEC, said the meeting was arranged as a part of the SEC’s regular activities.

“We’ve stressed again the need for fresh supply of shares in the market and asked merchant bankers to organise more investors’ awareness programme,” he said.

A source said the SEC right now is not considering taking new decisions with regard to margin loans and share transaction.

But he added the SEC would step up its surveillance and told merchant bankers to stem irregularities in netting facilities.

The stock market watchdog also asked merchant banks to abide by securities rules while giving margin loans.

Source: The financial express, 26 October, 2010

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