Daily Star, 26 July 2012
The Securities and Exchange Commission has asked four listed commercial banks to submit information on investment in the stockmarket that they announced through newspaper advertisements a few days ago.
The stockmarket regulator has sent four separate letters to the managing directors of the banks, instructing them to submit the information within July 31.
The banks will have to inform the market regulator whether the disclosed amount that is to be invested in the stockmarket has been deposited with the concerned stockbrokers and when the investment will be completed.
The SEC also directed the four banks to inform the regulator within seven days of completing their investment.
Earlier, Standard Bank, Pubali Bank, EXIM Bank and NCC Bank advertised that they would invest Tk 100 crore, Tk 500 crore, Tk 200 crore and Tk 100 crore respectively in the stockmarket in the next two months.
On July 24, SEC asked listed companies, including banks, to not put up unauthorised advertisements in print media to influence investment decisions.
The instruction came a few days after the four banks publicised their intention to invest, through advertisements and press releases.
As per SEC rules, listed companies are supposed to inform the regulator and the stock exchanges from beforehand their plans to broadcast information that might influence investment decisions.
The advertisements had an immediate positive impact on the market, with the benchmark index of the Dhaka bourse, DGEN, rising by more than 250 points in the last one week.
Bangladesh Economy 
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