SEC gets another member

Dhaka, July 13 (bdnews24.com)? The government has appointed former district judge M A Salam Sikder to the Securities and Exchange Commission (SEC) to make the capital market regulator five-strong.

The finance ministry announced the appointment on Wednesday. Sikder has been appointed for three years.

The government has been overhauling the securities watchdog following an investigation into Dec-Jan share bubble and bust.

SEC got four other new members in May. Former Bangladesh Bank executive director Mohammed Amzad Hossain and former president of Bangladesh Merchant Bankers Association Arif Khan were appointed on May 29.

Before them, Investment Corporation of Bangladesh chairman M Khairul Hossain was made chairman of the regulator on May 15 and Chittagong University's accounting professor Helaluddin Nizami member on May 2.

Khairul replaced Ziaul Haque Khondker, who was appointed the seventh chairman of the market watchdog on May 3, 2009.

Following the suggestions made by the probe committee led by Khondaker Ibrahim Khaled on the stock market debacle, finance minister A M A Muhith said new members, including the chairman, would be appointed as part of the government move to restructure the SEC.

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