Market insiders say that these rules to protect whistleblowers and provide incentives are being introduced for the first time in the capital market’s history.

The Bangladesh Securities and Exchange Commission (BSEC) has initiated the formulation of rules to ensure legal protection for whistleblowers, aiming to encourage greater disclosure of information about the capital market.

Market insiders say that these rules to protect whistleblowers and provide incentives are being introduced for the first time in the capital market's history.

In addition to providing protection, the draft rules propose that whistleblowers who provide information will receive 25% of the penalties as an incentive if the capital market regulator imposes fines on any capital market stakeholders.

To formulate the rules, the regulator published draft rules namely "Capital Market Related Information Disclosure and Whistleblower Protection Rules, 2026" in its website and sought public opinions within two weeks, by 15 March.

The draft rules define a whistleblower as any person associated with the board of directors, an executive member, trustee board member, auditor, or lawyer of any market intermediary registered with the BSEC, or of any listed company, mutual fund, alternative investment fund, or special purpose vehicle (SPV).

Protection of whistleblowers

The draft rules state that if a whistleblower discloses information, their identity shall not be revealed without their consent, unless disclosure is...

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