The government plans to increase the manpower of the Securities and Exchange Commission (SEC) in a bid to make it more effective and powerful.
The banking division will send a proposal to the finance minister with the recommendation to turn the posts of SEC members into commissioners.
Also, there will be six commissioners instead of four, according to the new securities rules. At present, the SEC has two members -- Muhammad Yasin Ali and Md Anisuzzaman.
Yasin Ali looks after the surveillance, supervision and regulation of markets and issuer companies in addition to capital issue, supervision and regulation of intermediaries, registration and SRMIC department of the SEC.
Administration and finance, law enfor-cement and the central depository system are under the charge of Md Anisuzzaman.
The government plans to increase the commission's manpower as it does not have a public relations department yet. As per the new proposal, a commissioner will be selected from the public and private sectors.
In the new draft rules, banks and non-bank financial institutions are bound to give any kind of information for the sake of proper investigations.
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