SEC says concerns about media glare on probes on share trades
View(s):The Securities and Exchange Commission of Sri Lanka (SEC), now under a new chairperson Nalaka Godahewa, this week expressed concern over media articles on current investigations by the SEC. “The SEC is concerned about certain daily and weekly newspaper articles which appeared recently giving an impression that a number of companies are under investigation by the SEC.”
“The SEC wishes to categorically mention that there are no ongoing or pending investigations at present in respect of any of the companies disclosed in the above mentioned articles. It should also be mentioned that any investigation conducted by the SEC pertaining to trades executed by any investor in the secondary market should not be construed as an investigation against the establishment whose securities are involved in such investigation. This will result in creating an adverse impression and impact on such companies and their stakeholders,” the Commission said in a statement.
Business Editor notes: The Business Times in last week’s edition reported on trades in several companies being under investigation. The story clearly referred to share trades under investigation and didn’t in any way refer to a company being under investigation.
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