Sri Lanka’s Monetary Board of the Central Bank (CB) has decided to suspend Perpetual Treasuries Ltd (PTL) from carrying on the business and activities of a Primary Dealer for a period of six months with effect from 4.30 p.m. on July 6 (Thursday).
Acting under terms of the Regulations made under the Registered Stocks and Securities Ordinance and the Local Treasury Bills Ordinance, the banking regulator said it will take necessary measures to ensure that this regulatory action does not have a disruptive impact on the market.
PTL is the subject of two investigations: One by the CB for alleged insider trading in two bond issues, and by an ongoing President-appointed commission which is probing the bond scam.
The Auditor General has said the loss to the government from both tainted bond deals is in excess of a billion rupees.
“Action will also be taken to facilitate the handling of the interests of the customers and counterparties of PTL in an orderly manner,” the CB said not giving reasons for the suspension. – ENDS -
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.
Leave Comments