Market Vs. Regulation

Quibit · 21 Re: Market Vs. Regulation Tue Dec 13, 2011 12:05 am

Quibit

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Asanga Seneviratne is one of the pioneers and great personalities of stock brokering in Sri Lanka. He had been instrumental in many deals including the the takeover of Nation Lanka Finance and facilitating the controversial takeover of Richard Pieris and company on behalf of Dr Sena yaddehige.

Since of late Mr Seneviratne had been concentrating on tourism project in the east coast, successfully raising over Rs 2 bn from foreign investors mainly from USA whilst his absence in the equity market has been a great loss to Sri Lanka.

His contribution and advise to SEC is greatly required under the current circumstances. His comments to Sunday leader newspaper which he suppose to own proves his unbiased opinion about the stock market and the regulations!!!

UKboy · 22 Re: Market Vs. Regulation Tue Dec 13, 2011 12:49 am

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" wrote:
Seneviratne said that one of the golden eras of the Colombo bourse was in the early 1990s when there was little or no regulation, which however attracted foreign investments.

According to Mr Seneviratne yes there was so called golden era in early 1990s but soon after that period the market (almost) collapsed (BTW he forgot to mention it..!). Yes there was very little or no regulations in those days.

But in 2011. Market did not collapse. Luckily much better rules and regualtions are implemented. (OK I agree its not perfect but far better than early days)

If SEC had not introduced new rules we would have seen another market collapese in mid 2011.

lokuayya · 23 Re: Market Vs. Regulation Tue Dec 13, 2011 1:44 am

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yes ,yes,in 2011 regulators were very good and smart.they caught and punished three clerks of a local bank who manipulated the market by buying rs15000/ worth shares.

UKboy · 24 Re: Market Vs. Regulation Tue Dec 13, 2011 7:31 am

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@lokuayya wrote:yes ,yes,in 2011 regulators were very good and smart.they caught and punished three clerks of a local bank who manipulated the market by buying rs15000/ worth shares.

Please can you let me know just one local governing body which works according to rules in the book or penalise all wrong doings within that governing body?

aj · 25 Re: Market Vs. Regulation Tue Dec 13, 2011 9:00 am

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@Quibit wrote:Asanga Seneviratne is one of the pioneers and great personalities of stock brokering in Sri Lanka. He had been instrumental in many deals including the the takeover of Nation Lanka Finance and facilitating the controversial takeover of Richard Pieris and company on behalf of Dr Sena yaddehige.

Since of late Mr Seneviratne had been concentrating on tourism project in the east coast, successfully raising over Rs 2 bn from foreign investors mainly from USA whilst his absence in the equity market has been a great loss to Sri Lanka.

His contribution and advise to SEC is greatly required under the current circumstances. His comments to Sunday leader newspaper which he suppose to own proves his unbiased opinion about the stock market and the regulations!!!

It may be your view, but when I read this interview what I see is very irresponsible and lawless views.
How can a broker say it's the investor's error when big players and brokers gang up and join the manipulations. Aren't brokers "investment advisers" or "investment analysts"? Aren't we paying for that? How many times have you been 'adviced' to buy speculative stocks if you ask for advice?

He may have brokered deals. That must be his profession. When you want to buy or sell a property you hire a broker and you give a percentage of the deal. Does it make the broker a great personality or pioneer? It his job to get your property bought and sold and get a commission out of it.

Why do we have laws against heroine? Why not educate the public and remove the laws. So that heroine can be freely available in groceries. So we educate the public the dangers of the drug. We can't do it. It doesn't work that way. We have to catch the criminals, stop the distribution. It may not work but civilized people are always try that.

Brokers are not happy because they're profits have gone down. Part of the retail investors are unhappy because they bought overvalued shares. But you can't let the whole economy and the financial system fail because of that which is depended on the other 99.9999% population.

Anyway even if they do get more credit it would be just a temporary plaster for a few days. It just delays the natural behaviour.

And why didn't the foreign investors buy the equity market shares? Why do they go for direct investments?

Last edited by aj on Tue Dec 13, 2011 9:26 am; edited 2 times in total

econ · 26 Re: Market Vs. Regulation Tue Dec 13, 2011 9:05 am

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Agreed with asanga senevirathne here. SEC ruined the market with unnecessary regulations . market behavior should be decided by market players not the bureaucrats in the sec . SEC intervention only aggravate the situation.
I am a full supporter of free and open market economy with least intervention by government.

Appuhamy · 27 Re: Market Vs. Regulation Tue Dec 13, 2011 9:11 am

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Yes. correct ...

manula · 28 Re: Market Vs. Regulation Tue Dec 13, 2011 9:42 am

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@UKboy wrote:

@lokuayya wrote:yes ,yes,in 2011 regulators were very good and smart.they caught and punished three clerks of a local bank who manipulated the market by buying rs15000/ worth shares.

Please can you let me know just one local governing body which works according to rules in the book or penalise all wrong doings within that governing body?

Then why to make heavy unneasarry rules.... market has to work as supply and demand theory. I am agree rules has to be thier to control the things... but not over.. not to kill.

K.Haputantri · 29 Re: Market Vs. Regulation Tue Dec 13, 2011 9:43 am

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I firmly believe that the Forum needs cater to all players of the Market such as policy makers(Finance Ministry, Treasury, Central Bank etc), regulaters, market participants(banka, brokers etc) and investors. The first three catagories are trustees who play their respective roles for the benefit of the country. The fourth category has placed their trust on them in good faith. Ultimately it is the fourthe category (investors) who face the consequences of good/bad decisions and actions or inactions of the trustees. Hence, not only that their should be fairplay in the market but also it should be seen and accepted by all concerned.

Kumar · 30 Re: Market Vs. Regulation Tue Dec 13, 2011 12:02 pm

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@econ wrote:Agreed with asanga senevirathne here. SEC ruined the market with unnecessary regulations . market behavior should be decided by market players not the bureaucrats in the sec . SEC intervention only aggravate the situation.
I am a full supporter of free and open market economy with least intervention by government.

Totally agree with you. That will happen where law and order respected for everyone by the authority.
But here so called big market players are bubbling the market with their financial and political influence no?

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Market Vs. Regulation

21 Re: Market Vs. Regulation Tue Dec 13, 2011 12:05 am

Quibit

22 Re: Market Vs. Regulation Tue Dec 13, 2011 12:49 am

UKboy

23 Re: Market Vs. Regulation Tue Dec 13, 2011 1:44 am

lokuayya

24 Re: Market Vs. Regulation Tue Dec 13, 2011 7:31 am

UKboy

25 Re: Market Vs. Regulation Tue Dec 13, 2011 9:00 am

aj

26 Re: Market Vs. Regulation Tue Dec 13, 2011 9:05 am

econ

27 Re: Market Vs. Regulation Tue Dec 13, 2011 9:11 am

Appuhamy

28 Re: Market Vs. Regulation Tue Dec 13, 2011 9:42 am

manula

29 Re: Market Vs. Regulation Tue Dec 13, 2011 9:43 am

K.Haputantri

30 Re: Market Vs. Regulation Tue Dec 13, 2011 12:02 pm

Kumar

31 Re: Market Vs. Regulation

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