Former Dhaka University teacher Farzana Lalarukh has been appointed as commissioner of the Bangladesh Securities and Exchange Commission (BSEC) for the next four years.
The Financial Institutions Division of the Ministry of Finance (MoF) issued a notification in this regard on Tuesday with immediate effect.
Ms Lalarukh held various academic positions at the University of Dhaka from 1995 to 2021, retiring as a professor.
After her appointment, the Commission now has all its members -- a chairman and four commissioners, making it fully operational.
Khondoker Rashed Maqsood is the chairman while four commoners are Dr ATM Tariquzzaman, Md Mohsin Chowdhury, Md Ali Akbar, and Farzana Lalarukh.
The purpose of the Commission is to protect the interest of investors, develop the securities market, and make rules for matters relating to the market.
Mr Maqsood, a former banker, joined the BSEC two weeks back for a four-year term after Prof Shibli Rubayat Ul Islam resigned from the chairman post following the fall of the Hasina-led government on August 5 in the wake of a student-led mass uprising.
Tariquzzaman, a former executive director of the securities regulator, and Mr Chowdhury, former director general of Bangladesh Karmachari Kallyan Board, joined the BSEC as commissioner in May this year.
Md Ali Akbar, a former district and session judge, was appointed as a commissioner last week.
The new commission has already started working on resolving issues that it considers important for investors to regain confidence in the market.
"Our first priority is to bring back good governance in the market," said the newly-appointed BSEC chief at a press briefing recently, while unveiling a road map for the development of the stock market.
The stock market regulator has also taken initiatives to investigate alleged irregularities that took place over the last 15 years.
The securities regulator formed a five-member committee on Sunday to probe into past irregularities, manipulation, and corruption in the capital market, including issues tied to Beximco Sukuk and bonds issued for developing the Sreepur Township Project.
The panel will also look into the deal struck by ABG Ltd, a concern of Bashundhara Group, to become a strategic investor of the Chittagong Stock Exchange, its acquisition and pricing of stock exchange shares as well as share price manipulation and other issues of nine companies.
Among the nine are Sonali Paper & Board Mills, Acme Pesticide, Coppertech Industries, Fortune Shoes, Emerald Oil Industries, Ring Shine Textiles, and Best Holdings.
Investigators will also look into the share transfer process of Al-Amin Chemical Industries and Quest BDC (Padma Printers Ltd), which are undergoing preparation to make trading debut on SME Platform from the over-the-counter market.
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