BSEC logoAs per BSEC’s decision, sponsors and directors holding shares of Z category companies will not be able to sell, transfer, hand over and pledge themThe Bangladesh Securities and Exchange Commission (BSEC) has plans to regulate junk stocks or Z category companies. The stock market regulator took some decisions to work on the junk stocks at a commission meeting, presided by its chairman Prof Shibli Rubayat Ul Islam on Thursday. Meanwhile, the BSEC also decided to amend the conditions for Z category companies. The country’s prime bourse, Dhaka Stock Exchange, now trades 53 junk stocks. The commission meeting decided to rename the Surveillance Department as 'Market Surveillance and Intelligence' for collecting confidential information on various activities of the stock market.

Source: Dhaka Tribune August 13, 2020 16:07 UTC