SEC and CSE meet stock brokers on market undercurrents

The Securities and Exchange Commission of Sri Lanka (SEC) together with the Colombo Stock Exchange (CSE) met the CEO’s of the stockbroker firms for a discussion on the current status of the stock market today (Thursday).

The market has been reaching astronomical highs in recent times causing some concern to the regulators.

“Candid views were expressed between the parties and the stockbrokers expressed their views with regard to the information that has been called for by the circular issued by the CSE. The stockbrokers expressed the view that there had been some misconception that this information was to be gathered in order to curtail the credit that has been extended by the stockbroker firms. SEC Chairman Viraj Dayaratne,  PC explained that such information was anyhow being collected on a fortnightly and monthly basis and considering the dynamic nature of the market some such information was required to be submitted on a weekly basis and that it was in no way meant to curtail credit granted by the stockbrokers,” the SEC said in a media release.