Sri Lanka’s Securities and Exchange Commission (SEC) should not be involved in marketing and promotions, SEC Chairman Thilak Karunaratne said on Thursday.
Speaking at the traditional ‘bell ceremony’ opening trading for the morning at the Colombo Stock Exchange, he said, “The regulator should distance itself from promotions.”
He was alluding to the fact that the previous team led by SEC Chief Nalaka Godahewa had been organizing promotion campaigns in overseas capitals.
Mr. Karunaratne was making his first public comments since taking over the SEC chair, about few weeks back, for the second time in three years. He served an earlier stint as SEC chief was forced to resign under pressure from mafia-type investors who dominated the market.
Adding that “all investors should be given a fair deal”, Mr. Karunaratne noted that more amendments to the SEC will be presented giving it more teeth.
“We have to correct shortcomings not only in the act of all areas of the capital market,” he noted. - DEC
Former Chairman of SriLankan Airlines, Nishantha Wickramasinghe, arrested on allegation of corruption by the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) has been remanded until July 1 by the Colombo Magistrate court.
Deputy Minister of Finance and Economic Stabilization and NPP National List MP Harshana Suriyapperuma who is tipped to be named the next Finance Ministry Secretary resigned from Parliament today.
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