HC cancellation of BSEC rule stayed

Appellate Division has stayed the High Court order that declared as illegal the Bangladesh Securities and Exchange Commission’s (BSEC) rule which makes it mandatory for listed company directors to acquire two percent stake in their companies. Chamber Judge Hasan Foez Siddiqui stayed the verdict until May 22 following pleas by the chairmen of BSEC and NCC Bank, according to bdnews24.com.