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BSEC to introduce SMS alerts on BO accounts

FE Report | Published: December 11, 2019 10:40:16 | Updated: December 12, 2019 11:49:14


The securities regulator has moved to introduce SMS alerts on updates of BO (beneficiary owner's) accounts, maintained by investors of the capital market.

The Bangladesh Securities and Exchange Commission (BSEC) took the decision of introducing SMS alert service on Tuesday at a meeting held at the BSEC office.

After introduction of the service, investors automatically will get information regarding opening the BO accounts and its link accounts.

Investors will also be informed of the changes in name of account holders, bank accounts, name of banks, mobile numbers, closing of BO accounts and conversion of margin accounts into non-margin accounts.

"The BSEC will introduce the service soon and investors will avail it without paying any fee," said Mohammad Saifur Rahman, a BSEC executive director.

Besides, the securities regulator will continue the existing SMS service on debit and credit of the investors' securities purchased through the BO accounts, Rahman said.

"Investors are required to include accurate mobile number in the form of BO opening form to ensure the safety of their accounts."

mufazzal.fe@gmail.com

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