SEC needs to make PLCs accountable

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There is no shortage of cautionary words and warnings out to the media by the Securities and Exchange Commission (SEC) on -mvestments in the secondary market because of recent price hike. The SEC's responsibility cannot end there. The Public Limited Companies (PLCs) cannot raise capital through initial public offerings (IPOs) without the clearance of the SEC which it cannot give unless being satisfied about the proposed IPO involving investments from the people.
I have the bitter experience of losing capital, up to 90 per cent, I had invested in primary shares a decade back. The SEC, as the regulators, cannot escape the responsibility when the PLCs are showing losses continuously for a decade. Should not the SEC properly scrutinise the annual reports of such PLCs.
It is time to look into the affairs of the PLCs and their associates. Let us hope for a better return on investments and also for good corporate governance.
Mahbubur Rahman
Dasani
Bagerhat