RSEBL notifies listed companies to be more transparent

The Royal Securities Exchange of Bhutan Limited (RSEBL) would strictly monitor compliance to disclosure of information by listed companies.

As mandated by section 5.23 of the listing rule, RSEBL notified on Thursday through its Facebook page that it would strictly monitor the compliance to disclosure of information and non-compliance would lead to penalty or even suspension of trading of securities in the secondary market.

This notification comes in the wake of untimely submission of information to RSEBL by the listed companies, with most producing information only on RSEBLโ€™s repeated follow-up.  

โ€œPlease be reminded that RSEB is accountable to provide effective and efficient information on the matters concerning the listed companies to safeguard the interest of the market and investors. Not disclosing such information to investor not only hampers the image but also the sole responsibility of RSEB,โ€ states RSEB in its Facebook post.

RSEB has asked all the listed companies to disclose information, which might reasonably affect the market activity and the prices of the securities traded on the Stock Exchange.

RSEBL maintained that this requirement is also as per Section 5.13 VX (a) of the Rules Governing the Official Listing of Securities.

Further, the RSEB has also notified the listed companies about Section 5.13 VX (b). The RSEB has also notified the companies to comply with other relevant disclosure norms in the listing rule

Yenten Thinley from Thimphu