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The Financial Express
Swasti Lankabangla Swasti Lankabangla

One year on, BSEC annual report yet to be published

| Updated: September 15, 2020 10:01:39


One year on, BSEC annual report yet to be published

The securities regulator has not yet published its annual report for the fiscal year (FY) 2018-19 despite another fiscal year -- 2019-20 -- gone on June 30, 2020.

The officials of the Bangladesh Securities and Exchange Commission (BSEC) said the report could not be published as the concerned ministry had not yet given any green signal to publication of the report.

As per existing law, the securities regulator is required to take approval from the Ministry of Finance (MoF) for publishing the annual report.

"The securities regulator cannot publish its annual report without taking prior approval from the concerned ministry. But we are yet to receive the ministry's final approval to publish the report," said a BSEC official seeking anonymity.

The securities regulator is strict in getting quarterly and annual reports published by the listed companies and market operators in a bid to ensure discipline in the capital market.

The BSEC on different occasions took stern action, including imposing penalties, against many listed companies for not submitting quarterly and annual reports within stipulated timeframe.

But the BSEC was not able to publish its annual report for the FY 2018-19 even after the elapse of another FY as the ministry's final approval was yet to be received.

The BSEC official said the securities regulator had sent the draft of the annual report for the FY 2018-19 to the MoF in right time seeking its approval.

"But we are yet to receive final approval from the ministry. The report will be printed just after getting the approval from the ministry," said the BSEC official.

The responsibility of publishing the BSEC's annual report for the FY 2018-19 mainly lied with the previous commission which served until March, 2020.

The securities regulator publishes its annual report for each year ended on June 30. The report includes the BSEC's activities conducted throughout the FY.

Besides, the information regarding operations of capital market-related organisations, both the stock exchanges and Central Depository Bangladesh Limited are included in the annual report published by the securities regulator.

The BSEC's annual report also includes: enforcement actions taken against the listed companies and market operators, amendments brought to the securities rules, and the financial statement of the commission.

The scenarios of local and global stock exchanges and a description of the country's economy are also included in the annual report of the securities regulator.

The other information in the annual report is: number of securities listed with the stock exchanges, the amount of issued capitals, market capitalisation, number of investors having active BO (beneficiary owner) accounts,

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