BSEC to introduce e-data system

The securities regulator has moved to introduce Electronic Data Gathering and Retrieval system to ease and speed up the data and information submission by market intermediaries and listed companies, officials said.
The Bangladesh Securities and Exchange Commission (BSEC) is presently working with Asian Development Bank (ADB) to fix the contents on e-data gathering system by replacing the paper-based data submission.
"Electronic Data Gathering and Retrieval system will be introduced through a project under the Capital Market Development Project-III (CMDP-III)," said Mohammad Saifur Rahman, a BSEC executive director.
Rahman said the regulator is working with the ADB to specify the possible format for introducing the e-data gathering system.
"Now it's the time of automation. After introduction of e-data gathering system, the market intermediaries and listed companies will be able to submit data sitting in their offices. It will save time and paper," Rahman said.
He said in some cases it takes time to find out an old file. "After introduction of proposed data gathering system, officials will be able to find out any information within shortest possible time through a searching command."
Considering the safety of confidential information, the securities regulator is thinking about strong security for proposed Electronic Data Gathering and Retrieval system in the regulatory body.
"After launching the project for Electronic Data Gathering and Retrieval system, the consultant will be appointed. For choosing viable software necessary tests will be conducted to ensure security of the e-data gathering and recovery system," Rahman added.
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