BSEC oversees market manipulation, not portfolios: Chairman
He said investors make wrong decisions and later blame the stock exchanges and the regulator for their mistakes
The Bangladesh Securities and Exchange Commission (BSEC) works on regulation, monetisation, and controlling manipulation, and does not manage individual portfolios of investors, said the BSEC chairman.
Addressing the inauguration of the new Bangladesh Academy for Securities Markets (BASM) campus in Jibon Bima Tower of the capital on Monday, Professor Shibli Rubayat-Ul-Islam said they had noticed that investors invest in the capital market without proper knowledge and understanding.
"Investors make wrong decisions. Later, they blame the stock exchanges, including the regulatory body, for their mistakes," he said.
But neither the regulator nor the stock exchanges manage anyone's portfolio, he said.
"We do not determine who will buy or sell. We want an investor to invest with proper knowledge and understanding to earn a good return. We arrange training where investors gain this knowledge," he said.
He said authorised representatives involved in securities transactions also need education.
Every representative must be trained so that they can be a strong part of the stock market, said the chairman of the Bangladesh Securities and Exchange Commission.
He said, "We are going forward but could not achieve any of the main goals. We are trying hard."
Shibli said BASM was formed with the objective of imparting financial literacy throughout the country. "It arranges financial training to strengthen the fundamentals of the capital market."
The three other BSEC commissioners were also present at the event.
