BSEC cautions against fake statements attributed to chairman

The Bangladesh Securities and Exchange Commission (BSEC) on Wednesday urged all media outlets, journalists, social media users and investors to exercise utmost caution and professional responsibility before publishing or circulating any statement, decision or position in the name of the chairman or the commission.

A report was published under the headline “Not only fines for market manipulation, criminal cases will be filed,” attributing various comments to the BSEC chairman on issues including stock market manipulation, fines, criminal cases, brokerage houses, insider trading and market surveillance, the commission said in a press release.

The BSEC said its chairman had not given any interview or statement to the media on the matter.

“Therefore, any statement published in his name cannot be considered a statement of the BSEC chairman,” it said.

It said any purported or prepared statement presented as a comment of the chairman without his approval or authorisation would be false and misleading.

The commission also expressed concern over the circulation of such statements, particularly through social media platforms, where posts and shares are being presented as remarks of the BSEC chairman.

Such dissemination could create confusion among the public and investors about the position of the BSEC chairman and the commission and may lead to risks arising from the circulation of incorrect information in the stock market, it said.

The regulator said any important decision, directive, policy position or other significant statement should be verified through authorised press releases and information published on the commission’s official website.

The BSEC also said it would take seriously any attempt to create false or fabricated information in the name of the chairman or the commission through social media or other means with the intention of disrupting the normal investment environment.

It urged investors to verify the source and authenticity of information circulated on social media before making any investment decision based on such information.

Source: The Business Standard