SEC okays corporate governance guideline

DHAKA: Securities and Exchange Commission (SEC), stock market regulatory body, has approved the proposed amendment guideline of corporate governance.

The approval came from a 434th regular meeting of the commission in the city on Tuesday, said M Saifur Rahman, executive director and spokesman of SEC.

Under the new rules, the listed companies have to run business with the stipulated time set by the SEC, says a release adding the listed companies have to keep one-fourth independent director in the governing body.

Earlier, a three-member committee headed by SEC executive director Farhad Ahmed was formed to modify and add the corporate governance guideline.

Two other members of the committee were SEC executive director ATM Tariquzzaman and director Mahmudul Haq.

BDST: 2101 HRS, MAY 29, 2012
Edited by:
Mohammed Humayun Kabir, Sr Newsroom Editor
M. Mahbub Alam, Asst Output Editor