Emphasis on preventing rumors over stock market, 31 IDs inactivated

The Bangladesh Securities and Exchange Commission (BSEC) has taken a strict stand to identify those are spreading rumors about the stock market through various social media including Facebook and WhatsApp. As part of this, the regulator has decided to formulate strategies and work closely with partners to protect the securities market and the interests of investors.

Meanwhile, some 31 rumor-generating IDs have already been deactivated. Besides, action will be taken against the rumor-generating IDs gradually.

The matter was revealed by BSEC at a discussion on “Preventing Stock Market Rumors Using Social Media and Other Platforms” held virtually on Wednesday (September 15), according to a press release.

A four-member probe body led by BSEC Director Rajib Ahmed was launched on May 24 this year to identify those who spread rumors about the stock market through various social media including Facebook and WhatsApp. The probe committee found that DSE Investors Club, We Want to Be a Gainer, The Third Eye, Share Market - DSE Investors Club, Public Business Club, Share Market Superstar Group, The Loyal Club, Share Bazaare Adda, Rakib Profit & Joy, Share Bazaar Zindabad, Stock Market Today, Bangladesh Capital Market Investors Alliance, Rockstar Club, Royal King Money Makers, Badsha Zone etc. are spreading rumors and artificially affecting the market value of various securities listed in the capital market.