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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Securities Exchange Act to be amended

Securities Exchange Act to be amended

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1Securities Exchange Act to be amended Empty Securities Exchange Act to be amended Sun May 20, 2012 12:47 pm

sriranga

sriranga
Co-Admin
The Securities and Exchange Commission Act was to be amended due to its existing loopholes, which were being exploited by brokers, Chairman of the Securities and Exchange Commission of Sri Lanka (SECSL) Dr. Tilak Karunaratne told The Nation last Friday.

He said the shady Rs.393 million National Savings Bank premium shares purchase deal where Taprobane Securities came into the picture as a broker was another eye-opener to the need.

Pointing out that always it was the regulator which had to do the pedaling to catch up with errant dealers, the SECSL Chairman said, “The SECSL has been working for sometime on upgrading the stock exchange rules. As to the NSB deal, Karunaratne pointed out that the SECSL was not the banking regulator. Meanwhile, the banking regulator – the Central Bank is remaining silent on the NSB issue and it casts a question mark. This was particularly in view of Central bank Governor, Ajith Nivad Cabraal, recently telling media men that the matter was being investigated by the CESL.
http://www.nation.lk/edition/breaking-news/item/6277-securities-exchange-act-to-be-amended.html

http://sharemarket-srilanka.blogspot.co.uk/

wgsaman

wgsaman
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
a good news

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
At last..........

4Securities Exchange Act to be amended Empty Re: Securities Exchange Act to be amended Mon May 21, 2012 10:40 am

manula


Vice President - Equity Analytics
Vice President - Equity Analytics
good move..but finally wake up after many bad moves done by manipulators, EPF/ETF deals etc... Very Happy

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