NatWealth Securities Ltd, a primary securities market dealer, has been suspended from June 1 by the Central Bank (CB) owing to its persistent failure to follow directions of the banking regulation.
A CB statement on Monday said that the CB Monetary Board “having considered the continuous failure to comply with the directions applicable to NatWealth Securities Ltd a Primary Dealer, acting in terms of the Regulations made under the Registered Stocks and Securities Ordinance and the Local Treasury Bills Ordinance, has decided to suspend the company from carrying on the business and activities of a Primary Dealer for a period of six months with effect from 01.06.2020”.
The CB said it will take necessary measures to ensure that this regulatory action does not have a disruptive impact on the Government Securities market. Action will also be taken to facilitate the handling of the interests of the customers and counterparties of the said company in an orderly manner.
A Sri Lanka Air Force Bell 212 helicopter belonging to the No. 72 squadron has crashed into the Madhuru Oya reservoir this morning, Air FOrce Media Spokesman Eranda Geeganage said.
Read this week’s Sunday Times for your interesting articles including the ’’5th Column’’.
In its first electoral test since taking power, the ruling National People’s Power (NPP) fell short of expectations, winning only around 40 % of the national vote in Tuesday’s local government election and falling short of enough seats to gain control of the majority of councils.
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