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Stockbrokers to adopt code of ethics
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The stockbrokers of the Colombo bourse plan to adopt a code of ethics to counter criticism against them that surfaced following their controversial meeting with President Mahinda Rajapksa, to air their grievances.
From left: K. M. Tilakaratne, Senior Project Officer, (Transport & Regional Cooperation) ADB Sri Lanka, Rita O’ Sullivan, Country Director, Sri Lanka Resident Mission of ADB, Dr. P. B. Jayasundera, Secretary, Ministry of Finance and Planning and R. W. R. Premasiri, Secretary, Ministry of Ports and Highways
Issuing a statement, the Colombo Stock Brokers Association (CSBA) said that the association is fully supportive of regulations and any action taken against wrong doers, and would shortly adopt a code of ethics to ensure that all members follow rules and regulations in line with international best practices.
However, their meeting with President Rajapksa and the subsequent resignation of the then Director General of Securities and Exchange Commission, Indrani Sugathadasa had brought upon a wave of negativity over the CSBA and it climaxed with the comment made by a former regulator naming the brokering community as ‘a bunch of jokers’.
While reiterating that CSBA is committed in developing the country’s capital market, the statement noted that the CSBA appreciates a balanced approach towards regulating the market.
“In this regard, we very much welcome a consultative approach See page 35
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ZoomBookmarkSharePrintListen
The stockbrokers of the Colombo bourse plan to adopt a code of ethics to counter criticism against them that surfaced following their controversial meeting with President Mahinda Rajapksa, to air their grievances.
From left: K. M. Tilakaratne, Senior Project Officer, (Transport & Regional Cooperation) ADB Sri Lanka, Rita O’ Sullivan, Country Director, Sri Lanka Resident Mission of ADB, Dr. P. B. Jayasundera, Secretary, Ministry of Finance and Planning and R. W. R. Premasiri, Secretary, Ministry of Ports and Highways
Issuing a statement, the Colombo Stock Brokers Association (CSBA) said that the association is fully supportive of regulations and any action taken against wrong doers, and would shortly adopt a code of ethics to ensure that all members follow rules and regulations in line with international best practices.
However, their meeting with President Rajapksa and the subsequent resignation of the then Director General of Securities and Exchange Commission, Indrani Sugathadasa had brought upon a wave of negativity over the CSBA and it climaxed with the comment made by a former regulator naming the brokering community as ‘a bunch of jokers’.
While reiterating that CSBA is committed in developing the country’s capital market, the statement noted that the CSBA appreciates a balanced approach towards regulating the market.
“In this regard, we very much welcome a consultative approach See page 35
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