Stock Exchange Info

Investors to get SMS alerts on BO AC activities

Stock market investors would soon be automatically notified through short messaging service (SMS) about activities related to opening and closing of beneficiary owner accounts or changing of names, mobile numbers, bank and bank accounts.

The market regulator, Bangladesh Securities and Exchange Commission, on Tuesday approved a proposal from the Central Depository Bangladesh Limited regarding the SMS alert at a commission meeting presided over by its chairman M Khairul Hossain, a BSEC press release said.

It said that the investors would get the notifications very soon free of cost.The current SMS service related to debit and credit of securities in BO account would continue along with inclusion of the proposed services, it said. The investors would be informed about activities related with the BO account through the proposed text alerts, it said.

The investors were required to provide the accurate mobile number linked to the BO account to avail the services, the release said.

The investors must also state the correct bank account number in the BO account as many companies used traditional payment systems to send cash dividends, otherwise the investors might suffer.

Nowadays, many companies sent notices of annual general meetings and annual financial reports through e-mail. Therefore, the investors should mention the correct mobile and bank account numbers and e-mail id in the BO account.

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