...Quarterly Review January-March 2008 Securities and Exchange Commission Bangladesh SECURITIES AND EXCHANGE COMMISSION Quarterly Review January - March 2008 A publication of the SEC Securities and Exchange Commission Jiban Bima Tower ( Floor 15, 16 & 20 ) 10, Dilkusha Commercial Area Dhaka-1000, Bangladesh Phone: 9568101-2, 9561525 Fax: (88)-02-9563721 Website: http//:www.secbd.org E-mail: secbd@bdmail.net Price: TK. 25.00 only SECURITIES AND EXCHANGE COMMISSION Quarterly Review January - March 2008 TOPIC 1. Capital Market News 2. Corporate Finance 3. Capital Issue Department C O N T E N T S 4 7 8 11 13 14 20 22 23 24 25 4. Supervision and Regulation of Markets and Intermediaries 5. Central Depository System Department 6. Registration Department 7. SEC Surveillance Department 8. SEC Enforcement Actions 9. Legal Services Department 10. DSE and CSE Scenario 11. Bangladesh Capital Market Summary CAPITAL MARKET NEWS Establishment of Securities and Exchange Commission (SEC) SEC was established in June 1993 through enactment of the Securities and Exchange Commission Act, 1993 as a regulator of capital market of Bangladesh. Missions of SEC ! Ensuring proper issuance of securities ! Protection of the interest of investors in securities; ! Development of the capital and securities markets; and ! Regulation of the capital and securities markets in Bangladesh. Market Performance Dhaka Stock Exchange: As on the end of January-March, 2008...
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...Securities and Exchange Commission Bangladesh CHAIRMAN’S STATEMENT The Securities and Exchange Commission (SEC) was established on June 8, 1993 under the Securities and Exchange Commission Act 1993 (Act 15 of 1993) as a capital market regulator with a view to ensuring proper issuance of securities, protection of the interest of investors in securities, development of the capital and securities markets, and regulation of the capital and securities markets in Bangladesh. The Commission consists of a chairman and four full time members who are employed by the government for a period of three years renewable for another similar term. The services of the chairman and members of the Commission are also determined by the government. The Chairman is the chief executive officer of the Commission. The country’s capital market witnessed a remarkable turn-around during the fiscal year 2008-2009. There were unmistakable signs of the resurgence of investor’s confidence which suffered a major jolt in the wake of the catastrophic crash of the stock market in 1996. Dhaka Stock Exchange’s (DSE) general index which was introduced on 27th November 2001 with a base of 818 points hardly moved in the following two years with the index increasing by merely five points to reach 823 on 30th June 2003. A significantly higher level was attained during the following year with the index rising to 1319 as of 30 June 2004. Parallely, Chittagong Stock Exchange’s index rose from 1841 as of 30th June 2003 to...
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...SEC's role in managing financial governance? Do you think that businesses are more ethical after the passing of the Sarbanes Oxley Act? What examples are there to support you answer? “The mission of the U.S. Securities and Exchange Commission is to protect investors, maintain fair, orderly and efficient markets and facilitate capital formation (Commission, 2013).” According to the web site, the SEC requires public companies to disclose meaningful financial and other information to the public. This allows investors to be educated and judge for themselves whether or not to purchase, sell or keep a particular security. The SEC also oversees participants in the securities world, including securities exchanges, securities brokers and dealers, investment advisors, and mutual funds. This helps them to maintain fair dealing and protect against fraud. It has an enforcement arm which brings civil enforcement actions against individuals and companies for the violation of the securities laws. This would include insider trading, accounting fraud, providing false or misleading information, etc. The Sarbanes Oxley Act augments the SEC by mandating reform to “enhance corporate responsibility, enhance financial disclosures and combat corporate and accounting fraud (Commission, 2013),” and it created the Public Company Accounting Oversight Board to oversee the activities of the auditing profession. Judging by the continued sanctions being brought against companies, it does not seem...
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...Assignment: U.S securities & Exchange commission 1. Define the U.S. securities and Exchange’s mission/ Purpose. I believe that the purpose of the U.S. securities and exchange’s mission is to make people feel more comfortable and safe when investing as well as keep everything (market and exchange wise) organized. I think that having something like this helps people feel better about investing. On the U.S securities and exchange site they state that “The mission of the U.S. Securities and Exchange Commission is to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation.” ("The Investor's Advocate: How the SEC Protects Investors, Maintains Market Integrity, and Facilitates Capital Formation." SEC.gov. Web. 5 Oct. 2015.) 2. Give a detailed description of the SEC’s : A. History- Before the U.S securities and exchange act there was a law called the blue sky laws. This law was similar to the SEC but less effective. It was meant to enforce security and protect the people from fraud but unlike SEC some parts of this law varied from state to state. I am assuming that because of its ineffectiveness the law was modified and became Securities exchange act in 1934. Some existing organizations under SEC are the New York stock exchange, Municipal securities rulemaking board, NASDAQ stock market, etc.; President Roosevelt appointed John F. Kennedy’s father, Joseph P. Kennedy Sr., as the first chairman of SEC. B. Responsibilities-...
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...SEC's role in managing financial governance? Do you think that businesses are more ethical after the passing of the Sarbanes Oxley Act? What examples are there to support you answer? “The mission of the U.S. Securities and Exchange Commission is to protect investors, maintain fair, orderly and efficient markets and facilitate capital formation (Commission, 2013).” According to the web site, the SEC requires public companies to disclose meaningful financial and other information to the public. This allows investors to be educated and judge for themselves whether or not to purchase, sell or keep a particular security. The SEC also oversees participants in the securities world, including securities exchanges, securities brokers and dealers, investment advisors, and mutual funds. This helps them to maintain fair dealing and protect against fraud. It has an enforcement arm which brings civil enforcement actions against individuals and companies for the violation of the securities laws. This would include insider trading, accounting fraud, providing false or misleading information, etc. The Sarbanes Oxley Act augments the SEC by mandating reform to “enhance corporate responsibility, enhance financial disclosures and combat corporate and accounting fraud (Commission, 2013),” and it created the Public Company Accounting Oversight Board to oversee the activities of the auditing profession. Judging by the continued sanctions being brought against companies, it does not seem...
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...History and Evolution of the Securities and Exchange Commission The Securities and Exchange Commission was created at the conclusion of the Senate Banking and Currency Committee’s 1932–1934 investigation of stock exchange practices, usually called the Pecora Hearings, in recognition of the decisive role played by the committee’s counsel, Ferdinand Pecora.(Macey, 2010) Between September 1, 1929, and July 1, 1932, the value of all stocks listed on the New York Stock Exchange shrank from a total of nearly $90 billion to just under $16 billion, a loss of over 80 percent.(Macey, 2010) In a comparable period, bonds listed on the New York Stock Exchange declined from a value of $49 billion to $31 billion.(Macey, 2010) These figures, staggering as they were, fully gauge the extent of the 1929–1932 stock market crash.(Wiesen, 1979) During the post-World War I decade, approximately $50 billion of new securities were sold in the United States approximately half, or $25 billion, would prove near or totally worthless.(Wiesen, 1979) Leading securities, including General Electric, Sears, Roebuck, and U.S. Steel common stock, would lose over 90 percent of their value between selected dates in 1929 and 1932.(Zimmer, 2009) Formally, the purpose of Pecora’s stock exchange hearings was to determine why these staggering decreases in security values had occurred and to propose legislation to prevent another stock market crash. (Wiesen, 1979) The Pecora hearings also had an obvious...
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...________________________________________________________________________________________________ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________ FORM 8-K ____________________ CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): October 1, 2013 ____________________ AVAYA INC. (Exact Name of Registrant as Specified in its Charter) ____________________ Delaware (State or Other Jurisdiction of Incorporation) 001-15951 (Commission File Number) 22-3713430 (IRS Employer Identification Number) 4655 Great America Parkway Santa Clara, California (Address of Principal Executive Office) Registrant’s telephone number, including area code: (908) 953-6000 N/A (Former Name or Former Address, if Changed Since Last Report) 95054 (Zip Code) ____________________ Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: o o o o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) ________________________________________________________________________________________________...
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...[pic] Bangladesh being a developing country, security market is very important source for the growth and development of the industrial section. SEC is working for a healthy economic capital, active administrated securities market. But BSEC it self is not smooth & efficient. There are few problems has been arise after it established. BSEC is working on some new projects and plans. SEC introduce an online database called EDGAR from which investors can access this and other information filed with the agency. In the same online system also takes tips and complaints from investors to help the BSEC track down violators of the securities laws. Apart from the macro policy of contributing to the development of the national economy through harmonization with monetary policy, securities policy dealing with securities houses and markets, generally pursue three broad objectives- Firstly, to improve the efficiency of securities market. Secondly, to ensure the stability and soundness of the financial system. Thirdly, to protect investors rights. In this paper we have shown the history of the organization, in the second section we have shown different functions done by the BSEC, in the third chapter shown types of stock exchange, registered under the BSEC. In the fourth and fifth section we have tried to discuss the different departments of the BSEC and effects of BSEC on the capital market. In the sixth section we have discussed registration and rules & regulation imposed...
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...Mode View Mode BookSlideshowScroll Readcast Add a Comment Embed & Share Reading should be social! Post a message on your social networks to let others know what you're reading. Select the sites below and start sharing. Readcast this DocumentTransparent Login to Add a Comment Share & Embed Add to Collections Download this Document for Free Auto-hide: on Quantcast 1. ORIGIN OF THE REPORT This assignment is originated as the course requirement of FIN 335, which is termed to be a major course for the B.B.A program. As this assignment is based on Security Exchange Commission of Bangladesh, so we have to work with limited time. We were assigned the assignment on “Security Exchange Commission” around 30 days ago, and we went around looking for its source of existence and also searched the internet to get enough updated knowledge. 1.1 OBJECTIVE OF THE STUDY To present an overview of Security Exchange Commission. The Function...
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...1. ORIGIN OF THE REPORT This assignment is originated as the course requirement of FIN 335, which is termed to be a major course for the B.B.A program. As this assignment is based on Security Exchange Commission of Bangladesh, so we have to work with limited time. We were assigned the assignment on “Security Exchange Commission” around 30 days ago, and we went around looking for its source of existence and also searched the internet to get enough updated knowledge. 1. OBJECTIVE OF THE STUDY ➢ To present an overview of Security Exchange Commission. ➢ The Function of Security Exchange Commission. ➢ The objective of this report is to make readers know about Security Exchange Commission of Bangladesh. 1.2SCOPES AND METHODOLOGY OF THE REPORT SCOPE: After being assigned the assignment, we found that the scope of the report was confined to various related websites. The report is solely based on terms and concepts related to Security Exchange Commission. METHODS: This assignment has been prepared on the basis of experience gathered during the period of FIN 335 course. For preparing this assignment, we have also got information from various websites and Security Exchange office at Motijheel ‘ Jibon Bima Bhaban ‘which may provide successful results considering this report. 1.3 LIMITATIONS ✓ Some websites had no direct reference. ✓ Unable to collect enough information from due to their official restrictions. ...
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...investors the Government has established Securities and Exchange Commission on 8th June 1993, the main function of which are to develop and regulate markets and ensure proper issuance of securities. This commission act as a Central Regulatory Agency that guides the entire capital markets. Thus a lot of policies and regulations were framed by the Government through the commission to protect and enhance the securities markets helping channelize savings of different investment opportunities. But now-a-days the dual authority of Bangladesh Bank and Securities and Exchange Commission could jeopardize the development and functions of Merchant Banking policy. There are mainly two players in our country who regulate, make rules, acts, in the security markets. These are the Government and Security and Exchange Commission of Bangladesh (SEC). Beside this the two markets Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) are also enable to make rules, regulations regarding their market affairs. Government Regulation: The government has enacted varieties of laws applicable to the securities markets. These laws were the result of certain abuses that took place during the last decade. The collapse of the stock market of Bangladesh in 1996 provides an impetus for the regulation of securities trading. Securities markets regulating authority of Bangladesh along with the investors recognize that the regulation of securities markets is necessary in order to restore...
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...THE SECURITIES AND EXCHANGE ORDINANCE, 1969 (ORDINANCE NO. XVII OF 1969). [ 28th June, 1969 ] 1 An Ordinance to provide for the protection of investors, 2[ regulations of capital markets and issue] and dealings in securities. WHEREAS it is expedient to provide for the protection of investors, 3[ regulations of capital markets and issue] and dealings in securities and for matters ancillary thereto; AND WHEREAS the national interest of Pakistan in relation to the achievement of uniformity requires Central legislation in the matter; NOW, THEREFORE, in pursuance of the Proclamation of the 25th day of March, 1969, read with the Provisional Constitution Order, and in exercise of all powers enabling him in that behalf, the President is pleased to make and promulgate the following Ordinance:CONTENTS SECTIONS CHAPTER I PRELIMINARY 1. Short title, extent and commencement 2. Definitions CHAPTER IA ISSUE OF CAPITAL 2A. Control over issue of capital 2B. Control over prospectus and other advertisements 2C. Purchase of securities 2CC. Power to impose conditions 2D. Power to exempt and to condone contraventions 2E. Power to call for information 2F. False information 2G. Continuity of orders CHAPTER II REGISTRATION AND REGULATION OF STOCK EXCHANGES 3. No Stock Exchange to operate without registration 4. Eligibility for registration 5. Registration 6. Accounts, annual reports, returns, etc. 7. Cancellation of registration, etc. 8. Restriction...
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...An Analysis On The Role of Bangladesh Securities and Exchange Commission Course Name : Financial Institution and Market Course Code: Fin-335 , Sec: 1 Prepared for Prof. Tanvir Ahmed Chowdhury Chairman, Department of Business Administration East West University Prepared by Holistic Heroes Submission Date: 25th March, 2014 Group Profile Department Of Business Administration Letter of Transmittal 25th March 2014 Prof. Tanvir Ahmed Chowdhury Chairman Department of Business Administration East West University Dear Sir, It gives us immense pleasure to present our term paper on the topic “ An Analysis on Bangladesh Securities and Exchange Commission, for the course Financial Institution and Market (FIN_335). By doing this paper we have learned a lot practical issues regarding BSEC , Capital Market, Stock Market, Bond Market etc and we think that will help us in our near future. We would like to thank you for your valuable guidance in every problem we had the precious time that you give us. We will be available for any further clarification required and requesting to accept our term paper. Thank you Sincerely All the Members of Holistic Heroes Syed Md. Fakruuddin Nahid Hasan Sayma Sultana Al Mumtahina Shuovy Asma Sultana Nusrat Sharmin Eva Table of content | Page no | Introduction | 6 | 1.0.0 Bangladesh Securities and Exchanges Commission | 7 | 1.2.0 Function of BSEC | 9 | 2.0.0 Capital...
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...wewbg‡q RvixK…Z weÁvcb I †bvwUkmg~n ] SECURITIES AND EXCHANGE COMMISSION Jiban Bima Tower (15, 16 & 20th Floor) 10 Dilkusha C/A, Dhaka-1000, Bangladesh NOTIFICATION Dated, the 11th March, 2009 No. SEC/CMRRCD/2008-186/Admin/03-29⎯In exercise of power conferred by section 33 of the Securities and Exchange Ordinance, 1969 (Ordinance No. XVII of 1969), the Securities and Exchange Commission makes, after prior circulation, the following further amendments in the Securities and Exchange Commission (Public Issue) Rules, 2006, namely :⎯ In the aforesaid Rules,⎯ 1. In rule (2), for sub-rule (1) the following sub-rule (1) shall be substituted, namely :⎯ “(1) In these Rules, unless there is anything repugnant in the subject or context,⎯ (a) “associate” means any partner, employee or officer of a company or a body corporate over which the directors or subscribers to the Memorandum of Association and Articles of Association can exercise significant influence or control; ( 2445 ) g~j¨ t UvKv 6.00 2446 (b) evsjv‡`k †M‡RU, AwZwi³, gvP© 19, 2009 “banker to the issue” means any bank so named in the prospectus to collect money as subscription against security; “bidders” means the eligible institutional investors; “book-building method” means the process by which an issuer attempts to determine the price to offer its security based on demand from institutional investors; (e) “Commission” means the Securities and Exchange (c) (d) Commission (SEC) established under the wmwKDwiwUR...
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...Investment company; or (vi) Such other person as the Commission may by rule determine as qualified buyers, on the basis of such factors as financial sophistication, net worth, knowledge, and experience in financial and business matters, or amount of assets under management. 10.2. The Commission may exempt other transactions, if it finds that the requirements of registration under this Code is not necessary in the public interest or for the protection of the investors such as by reason of the small amount involved or the limited character of the public offering. 10.3. Any person applying for an exemption under this Section, shall file with the Commission a notice identifying the exemption relied upon on such form and at such time as the Commission by rule may prescribe and with such notice shall pay to the Commission a fee equivalent to one-tenth (1/10) of one percent (1%) of the maximum aggregate price or issued value of the securities. SEC. 11. Commodity Futures Contracts.- No person shall offer, sell or enter into commodity futures contracts except in accordance with rules, regulations and orders the Commission may prescribe in the public interest. The Commission shall promulgate rules and regulations involving commodity futures contracts to protect investors to ensure the development of a fair and transparent commodities market. SEC. 12. Procedure for Registration of Securities. - 12.1. All securities required to be registered under Subsection 8.1 shall...
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