Dhaka, May 8 (bdnews24.com) — Departing Securities and Exchange Commission (SEC) member Mohammad Anisuzzaman has said the SEC regulations are complicated and open to interpretation.
"SEC laws can be interpreted in several ways. Many came to us facing this problem. Such an important regulatory body should have clear laws," Anisuzzaman told bdnews24.com.
The retired judge added that only clear and understandable laws could stop their misuse.
Anisuzzaman was appointed member of the commission on Apr 15, 2009 for three years. His resignation comes ahead of an impending SEC overhaul after a committee formed to probe into the recent stock market crash squarely blamed the 'inefficient' market regulator.
Finance minister A M A Muhith recently said two new members, including the chairman, would be appointed as part of the move to restructure SEC.
"The old ones [incumbent chairman and members] have to go," said the finance minister, who added in another programme that he was not finding anyone competent for the posts.
Although in his resignation he wrote 'personal reasons', Anisuzzaman told bdnews24.com the Secretariat called him and asked him to resign.
"The probe report did not make any specific allegation against me. But the government no longer wants me here," he said.
He claimed he had 'tried his best' holding the forte these two years.
"No one has ever blamed me for corruption. Even then, I have to go in this humiliating manner," he added.
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