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Link: http://lankabusinesstoday.com/news/market/861-new-regulator
Colombo Dec 08, 2011 (LBT) - Dr. Tilak Karunaratne will head the Chair of the Securities and Exchange Commission (SEC) with effective from 8 December 2011, market sources revealed to LBT.
It is learnt that before leaving for 4th Bali Democracy Forum to be held in Indonesia President Rajapaksa in a letter had confirmed the appointment of Dr. Karunaratne as the Chairman of SEC.
Karunaratne was a former Sri Lanka Freedom Party and then a United National party before he was joining Sihala Urumaya. He is also a Chartered Chemist and was the Managing Director of Multiform Chemicals (Pvt) Ltd.
Midst of a stock market crash in Colombo in November SEC Director General Malik Cader resigned and was appointed as a consultant on Capital Markets at the Ministry of Finance whilst early this month SEC Chairperson Indrani Sugathadasa; wife of Presidential Secretary Lalith Weeratunga tendered her resignation to Finance Ministry.
Sri Lanka’s only stock market All Share Index (ASI) reached high, rising by a phenomenal 284% to a high of 7,797.96 points on 28th February 2011 and later tumbled down to below 6000 points in November 2011, which investors and brokers termed as a consequence of over regulation implemented by former watchdogs.
Colombo Dec 08, 2011 (LBT) - Dr. Tilak Karunaratne will head the Chair of the Securities and Exchange Commission (SEC) with effective from 8 December 2011, market sources revealed to LBT.
It is learnt that before leaving for 4th Bali Democracy Forum to be held in Indonesia President Rajapaksa in a letter had confirmed the appointment of Dr. Karunaratne as the Chairman of SEC.
Karunaratne was a former Sri Lanka Freedom Party and then a United National party before he was joining Sihala Urumaya. He is also a Chartered Chemist and was the Managing Director of Multiform Chemicals (Pvt) Ltd.
Midst of a stock market crash in Colombo in November SEC Director General Malik Cader resigned and was appointed as a consultant on Capital Markets at the Ministry of Finance whilst early this month SEC Chairperson Indrani Sugathadasa; wife of Presidential Secretary Lalith Weeratunga tendered her resignation to Finance Ministry.
Sri Lanka’s only stock market All Share Index (ASI) reached high, rising by a phenomenal 284% to a high of 7,797.96 points on 28th February 2011 and later tumbled down to below 6000 points in November 2011, which investors and brokers termed as a consequence of over regulation implemented by former watchdogs.
. companies relating to chemical and drugs will have a good time. 
