CSE on “naughty” list
View(s):In a bid to make listed firms accountable, the Colombo Stock Exchange (CSE) will be communicating the reasons as to why a company is on their “naughty list” or Watch List.
Firms are now transferred to this list, but it doesn’t show as to why they are in it. “We will be introducing a new column on the CSE website to inform the reasons for the transfer to the Watch List,” Head of Trading, Market Surveillance and Corporate Affairs Nilupa Perera told a group of media professionals at a CSE workshop recently. She said with this latest addition, investors will be better advised when buying shares of such firms.
It was noted that companies are now more regimented after the CSE introduced new rules on incorporate governance. “Most of them accept the rules now unlike earlier.” This also means now there are better listed firms with more accountability. Analysts say that corporate governance rules can elevate the legal and regulatory norms for governance, allow companies to differentiate themselves in the market, and increase their access to capital.
Renuke Wijayawardhane, Chief Operating Officer CSE noted that now most listed firms are prompt with their disclosures.
(DEC)