STAR BUSINESS REPORT

The Bangladesh Securities and Exchange Commission (BSEC) has warned investors to remain vigilant against fraudsters and manipulators who are spreading false and misleading information about stocks on Facebook to lure unsuspecting investors.

In a statement yesterday, the regulator said it has identified at least 11 Facebook pages and profiles engaged in circulating distorted information about share prices and offering tempting investment schemes, violating securities rules.

The accounts flagged by the regulator include Shakher Share Bazar, BD Stock Exchange (DSE & CSE), Momin Dse, Ashakaa Rasul Noomani, Share Market Success Strategies, Bazar Bishleshan, Ashikur Rahman Ashik, Anika Sarah, Public Business Club, Planned Investment, and Caleb Wright.

Several pieces of distorted information regarding share prices have been spread from these accounts, which is illegal, the BSEC said.

According to the stock regulator, these pages and profiles are not authorised research analysts or institutions.

Publishing investment advice without proper registration is illegal under the Bangladesh Securities and Exchange Commission (Research Analyst) Rules, 2013, the statement said.

Only merchant banks, stock dealers, brokers, asset management companies, investment advisers, and licensed research firms are permitted to publish market analysis.