SEC says stock investors are becoming whistleblowers
View(s):The Securities and Exchange Commission of Sri Lanka (SEC) has seen a marked decline in errant social media posts pertaining to the Colombo stock market two months after launching a dedicated webpage to report suspected market related wrongdoing on social media.
SEC’s Deputy Director General, Tushara Jayaratne told the Business Times that investors themselves have become information gatherers and providers for the SEC.
“The SEC recognised the need for proactive measures to identify and address potential social media wrongdoings that may impact investors and market stability. After introducing this dedicated webpage to report suspected market related wrongdoing on social media which is accessible through the SEC’s official website, we got a lot of information,” he said. Mr. Jayaratne said that the wrongdoers are warned and there are hardly any repeat offenders. Last year, the capital market regulator tackled 30 incidents involving social media, prompting the establishment of a mechanism to report suspected wrongdoing through its official webpage.
The website offers a user – friendly, confidential, and streamlined process for submitting information related to potential market manipulation, fraudulent activities, and other securities-related misconduct.
“This reporting mechanism is a significant move towards safeguarding investors and preserving market integrity in the face of evolving communication channels,” Mr. Jayaratne added.
Hitad.lk has you covered with quality used or brand new cars for sale that are budget friendly yet reliable! Now is the time to sell your old ride for something more attractive to today's modern automotive market demands. Browse through our selection of affordable options now on Hitad.lk before deciding on what will work best for you!