The Bangladesh Securities and Exchange Commission (BSEC) has decided to punish those who spread rumours about securities fluctuation on social platforms like Facebook, Whatsapp, YouTube, and LinkedIn.
The stock market regulator has formed an inquiry committee in this regard on Monday.
The committee will investigate information published through social media from January 2021 to identify the rumour mongers.
The four-member committee consists of Rajib Ahmed, director of the BSEC; Moinul Haque, head of application support of CDBL; Abu Nur Muhammad Hasanul Karim; head of the Systems and Market Admin Department at the DSE; and Mahfuzur Rahman, senior manager of the DSE.
The inquiry committee will submit the inquiry report to the commission within the next 30 working days.
The regulator noticed unethical activities regarding share transactions through social media, which need to be resisted to protect the interests of investors.
Earlier on 2 September last year, the BSEC asked rumour mongers to refrain from such activities.
At the same time, the DSE, and the CSE were asked to refrain from using names and logos.
Otherwise, it is in the interest of investors to take action under the Securities Act and the Digital Security Act.
Market insiders said lots of investors invest in the capital market depending on rumours.
Some people take advantage of using social platforms to spread rumours. As a result, general investors are suffering from accepting such rumors through social platforms, they added.