Express (July 14, 2011)
The Securities and Exchange Commission (SEC) gets fourth member for the first time since its inception in 1993.
The government appointed former District Judge Mohammad Abdus Salam Sikder SEC member as a part of its initiatives to restructure the regulatory body, officials said.
Executive Director of the SEC Mohammad Saifur Rahman said the government Wednesday appointed Mohammad Abdus Salam Sikder as a member of law in the SEC to accelerate its regulatory activities.
The move comes following the recommendations of probe committee formed to investigate the December-January stock market debacle.
The securities regulator has the provision of getting four members. But it never gets four members since its inception. The policy making affairs were carried out by three members.
As per probe committee's recommendations, the government by this time replaced the whole Commission, which was largely blamed for recent stock market debacle, by appointing its chairman and three other members.
However, the newly appointed SEC Member Mohammad Abdus Salam Sikder is likely to join office today (Thursday).
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