CSE withdraws two contentious circulars

The Colombo Stock Exchange (CSE) has withdrawn two contentious circulars which affected trading following concerns raised by stock brokers.

In a media release on Monday, the CSE said:

“The CSE had been in discussions with the stock brokering community with regards to the concerns they expressed pertaining to practical challenges in complying with Regulatory Measures on Monitoring Credit Exposure Undertaken by Stockbrokers/Dealers. Following discussions held today between the stock brokering community, the Colombo Stock Exchange and the Securities and Exchange Commission of Sri Lanka it was decided to withdraw the requirements applied on the Stockbroker Firms via the latest circulars bearing number 04-03-2021 dated 08th March 2021 due to the system limitations and practical constraints regarding the submission of certain information.”