The securities' regulator will establish an academy for educating investors on capital market.
The Bangladesh Securities and Exchange Commission (BSEC) has formulated draft rules on development of investment education and training including the provision of establishing an academy.
As per the draft rules titled Bangladesh Securities and Exchange Commission (Development of Investment Education and Training) Rules, 2016, the name of the proposed academy will be 'Bangladesh Academy for Securities Market'.
A fund titled 'Bangladesh Academy for Securities Market Fund' will be formed and all expenses of the academy will be met up from this fund.
Different entities including the securities regulator, different stakeholders, local and foreign institutions and individuals will contribute to the fund.
In 2008, the securities regulator established the Bangladesh Institute of Capital Market (BICM) for imparting practical capital market education and training.
Asked, about the proposed academy for the securities market, BSEC commissioner Dr. Swapan Kumar Bala said the Bangladesh Bank established a training academy and along with the Bangladesh Institute of Bank Management (BIBM).
"Similarly, the securities regulator has taken initiative to establish an academy for the securities market along with existing BICM," Dr. Bala told the FE.
Apart from arranging training on investment and securities market, the academy of the securities market will give certificates by conducting different courses such as certificate, diploma and post graduate.
Besides, the academy will arrange other courses set by the commission.
The academy will also play the role of arranging different programmes to spread investment education across the country.
The academy's board of governors will be formed as per the direction of the commission and the commission may restructure the board.
The chief executive and deputy chief executive of the academy will be the director general and additional director general respectively.
As the per draft rules, an executive director and a director of the securities' regulator will serve the academy as director general and additional director general respectively on lien.
Other BSEC officials may serve the academy on lien apart from the academy's own manpower.
Meanwhile, the securities regulator has sought public opinion on the draft rules of the Bangladesh Securities and Exchange Commission (Development of Investment Education and Training) Rules, 2016 through the BSEC website.
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