Bangladesh Securities and Exchange Commission (BSEC) has been upgraded to A-category from existing B-category a feat that is being expected to bring some benefits for the country’s securities regulator in the international arena.
The International Organization of Securities Commissions (IOSCO), an association of organisations that regulates the world’s securities and futures markets, has given this credit to the BSEC last night, BSEC Chairman M Khairul Hussain told a press briefing in Dhaka yesterday.
He said the BSEC would now get some benefits, including international assistance for its enforcement action and providing assistance to the member country as well, achievement to be eligible for being appointed or elected in the leadership position of IOSCO and attachment in the policymaking committee of IOSCO.
The chairman said it has become easy to get such feat because of recent demutualisation of stock exchanges.
It has got membership of IOSCO in 1995. Its members are typically the Securities Commission or the main financial regulator from each country.
IOSCO has members from over 100 countries, regulating more than 90% of the world’s securities markets.
The organisations role is to assist its members to promote high standards of regulation and act as a forum for national regulators to cooperate with each other and other international organisations.
IOSCO is structured into a number of committees that meet several times per year at different locations around the world and it has a permanent secretariat based in Madrid.