The Securities and Exchange Commission will introduce a new strategy for reporting of the usage of proceeds of bonds raised from the nation’s capital market.
The move will lead to better assessment and verification of judicious use of such funds.
While the capital market has been a source of capital raising, there have been allegations of diversion of some funds to other usage.
This development is having a negative impact on investor confidence in the market.
Regulator is working on improving the monitoring and reporting method.