FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka


Submit PostSubmit Post
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post



Latest topics

» Must watch this video - unnecessary panic
by Jana Today at 1:03 am

» DIPD/HAYC/HAYL
by Love Boy Today at 12:40 am

» LOLC HOLDINGS PLC (LOLC.N0000)
by learningthemarket Today at 12:03 am

» Daily Foreign Transactions
by Mr. X Yesterday at 11:28 pm

» Fall seven times, stand up eight.What happened, has happened. Free your mind from it. Stock market for beginners
by Asoka Samarakone Yesterday at 9:21 pm

» RICHARD PIERIS EXPORTS PLC (REXP.N0000)
by කොටස් වෙළඳපොළ2020 Yesterday at 9:06 pm

» Leading brokers causing market downturn
by Jayashantha Yesterday at 8:52 pm

» Unscripted daily drama.Traders are uncertain whether to buy or sell. Stock market for beginners
by Jayashantha Yesterday at 8:40 pm

» GLAS will be winner with Super Gain.
by Promoney Yesterday at 8:19 pm

» SRI LANKA TELECOM PLC (SLTL.N0000)
by KingKong Yesterday at 7:35 pm

» ACCESS ENGINEERING ( AEL.N )
by subash81 Yesterday at 7:01 pm

» OVERSEAS REALTY (CEYLON) PLC (OSEA.N000)
by Captain Yesterday at 5:49 pm

» EXPOLANKA HOLDINGS PLC (EXPO.N0000)
by judecroos Yesterday at 2:40 pm

» LITE.R - STOP THE MADNESS
by Big Bull Yesterday at 12:59 pm

» RHL - CSE's most undervalued stock?
by Promoney Yesterday at 12:09 pm

» Sunshine holding future potential
by keen Yesterday at 10:37 am

» February the month of purification for the Colombo Stock Market
by samaritan Yesterday at 9:47 am

» 5% down...
by Jana Yesterday at 1:52 am

» LANKA ALUMINIUM INDUSTRIES PLC (LALU.N0000)
by Jana Yesterday at 1:05 am

» The SIGNS of SRI LANKAN ECONOMIC RECOVERY
by dayandacool Tue Feb 23, 2021 9:39 pm

EXPERT CHRONICLE™

ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)


CHRONICLE™ YouTube

CHRONICLE™ NEWS PRODUCTS

FINANCIAL CHRONICLE™

Views & Reviews, Analysis, Evaluations, Discussions, Gossip and Hot Tips relating to Sri Lankan companies listed on the Colombo Stock Exchange (CSE)
Contribute




DAILY CHRONICLE™

Latest news and articles published in Newspapers, Websites, Blogs and other online news sites relating to business and investments in Sri Lanka
Contribute



ECONOMIC CHRONICLE™

This is a section that provide news, views, analysis, predications relating to Political and Socio-Economic factors and how such activities affect the Stock Market and other economic activity of the Country.

Contribute




EXPERT CHRONICLE™

This is an exclusive section for Expert Articles which will help member to share knowledge through comments and responses of the members. All members are allowed to reply and make comments to these articles.

Contribute


Submit Post


CHRONICLE™ YouTube

Youtube Videos and other visual presentations relating Stock market and other investment advise submitted by members or other contributors.

Contribute


Submit Post


කොළඔ කොටස් වෙළඳපොළේ වංශකථාව
කොළඔ කොටස් වෙළඳපොළේ ලැයිස්තුගත සමාගම් කොටස් ගැන තොරතුරු¸විශ්ලේෂණ¸සාකච්ඡා¸ කටකතා¸රසකතා යන සියල්ල අපේම සිංහලෙන් කතා කළ හැකි ‘කතා මණ්ඩපය’

Contribute

Twitter Feeds
POPULAR COMPANIES
A

ABANS ELECTRICALS PLC

ACCESS ENGINEERING PLC Hot

ACL CABLES PLC

ACL PLASTICS PLC

ACME PRINTING & PACKAGING PLC

AGSTAR PLC

AITKEN SPENCE HOTEL HOLDINGS PLC

AITKEN SPENCE PLC

ANILANA HOTELS AND PROPERTIES PLC

ARPICO INSURANCE PLC

ASIA ASSET FINANCE PLC

ASIA CAPITAL PLC

B

BAIRAHA FARMS PLC

BALANGODA PLANTATIONS PLC

BIMPUTH FINANCE PLC

BLUE DIAMONDS JEWELLERY WORLDWIDE PLC

B P P L HOLDINGS PLC

BROWNS BEACH HOTELS PLC

BROWNS INVESTMENTS PLC

C

CARGO BOAT DEVELOPMENT COMPANY PLC

CENTRAL INDUSTRIES PLC

CEYLON COLD STORES PLC

CEYLON GRAIN ELEVATORS PLC Hot

CEYLON TEA BROKERS PLC

CEYLON TOBACCO COMPANY PLC

CHEVRON LUBRICANTS LANKA PLC

COLOMBO FORT LAND & BUILDING PLC

COMMERCIAL BANK OF CEYLON PLC

CITRUS LEISURE PLC Hot

COMMERCIAL CREDIT AND FINANCE PLC

D

DANKOTUWA PORCELAIN PLC

DFCC BANK PLC

DIALOG AXIATA PLC

DIALOG FINANCE PLC

DIPPED PRODUCTS PLC

DISTILLERIES COMPANY OF SRI LANKA PLC

DUNAMIS CAPITAL PLC

E

EAST WEST PROPERTIES PLC Hot

EASTERN MERCHANTS PLC

EXPOLANKA HOLDINGS PLC

E-CHANNELLING PLC

F

FIRST CAPITAL HOLDINGS PLC

G

GALADARI HOTELS (LANKA) PLC

GUARDIAN CAPITAL PARTNERS PLC

H

HATTON NATIONAL BANK PLC

HAYLEYS PLC

HAYLEYS FABRIC PLC

HAYLEYS FIBRE PLC Hot

HEMAS HOLDINGS PLC

HIKKADUWA BEACH RESORT PLC

HNB ASSURANCE PLC

HVA FOODS PLC

J

JANASHAKTHI INSURANCE COMPANY PLC

JOHN KEELLS HOLDINGS PLC Hot

JOHN KEELLS HOTELS PLC

L

LANKA ASHOK LEYLAND PLC

LANKA IOC PLC

LANKEM CEYLON PLC

LANKEM DEVELOPMENTS PLC

LAUGFS GAS PLC

LAUGFS POWER LIMITED

LOLC FINANCE PLC

LOLC HOLDINGS PLC

LUCKY LANKA MILK PROCESSING COMPANY PLC

M

MELSTACORP PLC

N

NATIONAL DEVELOPMENT BANK PLC

NATION LANKA FINANCE PLC

NESTLE LANKA PLC

O

ORIENT FINANCE PLC

OVERSEAS REALTY (CEYLON) PLC

P

PANASIAN POWER PLC

PEOPLE'S LEASING & FINANCE PLC

PIRAMAL GLASS CEYLON PLC

PRIME FINANCE PLC

R

RAIGAM WAYAMBA SALTERNS PLC

RENUKA AGRI FOODS PLC

RENUKA CAPITAL PLC

RENUKA HOLDINGS PLC

RICHARD PIERIS AND COMPANY PLC

RICHARD PIERIS EXPORTS PLC Hot

ROYAL CERAMICS PLC

S

SAMPATH BANK PLC

SEYLAN BANK PLC

SIERRA CABLES PLC

SINGHE HOSPITALS PLC Hot

SMB LEASING PLC

SOFTLOGIC HOLDINGS PLC

SOFTLOGIC LIFE INSURANCE PLC

SRI LANKA TELECOM PLC

SWISSTEK (CEYLON) PLC Hot

T

TEEJAY LANKA PLC

TESS AGRO PLC

THREE ACRE FARMS PLC

TOKYO CEMENT COMPANY (LANKA) PLC Hot

U

UNION BANK OF COLOMBO PLC

V

VALLIBEL FINANCE PLC

VALLIBEL ONE PLC Hot

VALLIBEL POWER ERATHNA PLC

W

WASKADUWA BEACH RESORT PLC


You are not connected. Please login or register

FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » SEC made significant strides in 2011: Chairman Karunaratne

SEC made significant strides in 2011: Chairman Karunaratne

Go down  Message [Page 1 of 1]

CSE.SAS

CSE.SAS
Global Moderator
Historically, capital markets have played an important role in the development of market economies and therefore the development of efficient regulation of securities too has become increasingly important.
While fostering the development of the economy, the capital markets also play an important equalising role. Viz – it attracts the participation of a large number of people in the economy by investing in securities and other derivatives. Therefore the role of the regulator becomes even more important as there is a large number of stakeholders involved. It follows that a well regulated market will encourage more people to come in as investors and contribute to the development of the economy.

Sri Lanka’s capital market has developed faster and more comprehensively in the last 3 years than any other period in history. It directly accelerated economic growth to a larger extent by providing a boost to domestic savings and increasing the quantity and the quality of investment. During the last three years, the Colombo stock market provided the public an additional avenue of investment even though many did not tread this path carefully by not assessing the risks involved in an appropriate manner.

The high growth in the Colombo stock market seen in 2009, 2010 and in the first quarter of 2011 caused a high degree of price volatility and it also created many regulatory and supervisory issues. The SEC was forced to step in and take several – perhaps not very popular – measures to curb the volatility and to reduce the systemic risk in the capital market.

2011 was a difficult year for the world’s stock markets largely due to the European debt crisis. International stocks, measured in US dollars, lost 14.4% in 2011. Losses varied by region and, in spite of the Euro crisis, European stocks fared the best losing 11.9%. Pacific-rim stocks, comprised mostly of Japan and Australia, lost 14.4%, while emerging markets fared the worst, declining 18.8%. Worldwide stock market capitalisation fell 12.1%.

As a consequence of these trends, and also due to factors which were local in nature, the Colombo Stock Exchange (CSE) too recorded a negative growth of 8.5% in 2011.

During the year under review the Securities and Exchange Commission of Sri Lanka (SEC) continued to provide proper direction and consistency in policies towards fulfilling our mandate of fostering a fair, efficient and transparent capital market. In line with our objectives the SEC made significant strides in developing market infrastructure, institutions, intermediaries and investors in order to expand the role of our capital market in financing the growth of the economy.

The regulatory reform process of the SEC is focused on strengthening investor protection and market integrity. We made significant efforts in reforming the legal framework with these objectives in mind. After extensive consultations with all the stakeholders, amendments to the SEC Act were finalised, while the Unit Trust Code was amended and gazette to enable the regulation of exchange traded funds. The SEC is in the process of finalising the draft bill for the Demutualisation of the CSE to bring our capital market to be in line with those in more mature jurisdictions.

During the year we embarked on a more proactive role to make the capital market accessible to the masses through financial literacy programmes. In association with market participants the SEC conducted a live television series comprising of studio discussions.

It also organised Investor Day programmes throughout the country aimed at imparting the required knowledge on investing in the capital market which enabled the public to make better investment decisions. In addition we published regular articles in news papers in order to make the public better informed of these matters.

The SEC is of the view that for a market to be attractive to potential investors and draw wider participation it must earn investor confidence. In the middle of year 2010, as fears of a speculatory bubble grew, we imposed credit restrictions in order to bring sanity in the market. However towards the latter part of year 2011 in order to stimulate the market, these restrictions were relaxed to some extent and further concessions were given at the beginning of 2012.

In the face of changing conditions in the domestic capital market landscape it necessitated us to step up our efforts in the supervisory front to a more proactive risk focused framework. The risk-based supervision of the SEC focused on continuous monitoring and evaluation of the risk profiles of regulated entities in relation to their business conduct and financial soundness.

We continued to remain vigilant and maintain robust surveillance of the trading activities to ensure that the market operates in a fair and orderly manner and promote efficient price discovery. The SEC is able to monitor trading activities on a real time basis to detect a wide range of possible market misconduct. This enabled us to act promptly to curb potential market misconduct and enhance investor protection.

During the year we conducted a Capital Market Development Workshop with the participation of industry participants to discuss issues of mutual interest on the securities market. This workshop enabled us to obtain insights and opinion of stakeholders towards developing the capital market and this forum gave us the opportunity to obtain industry views prior to implementing new policies. These dialogues had a positive outcome and the SEC shall strive to maintain close interaction with the industry and where possible obtain the concurrence of all stakeholders.

In the coming year we are determined to further strengthen the regulatory and supervisory arrangements in keeping with modern trends. Investigation capability will certainly be enhanced and we expect better performance in this area.

We are of the view that the settlement risk which currently exists between T (Trade Day) and T+3 (Settlement Day) will be fully eliminated by improving equity-market infrastructure such as establishing a Clearing Corporation. We will also pay more attention to improving corporate governance, improving market liquidity, creating a well informed and educated investor base, re-evaluating market volatility controls and developing a long-term listed debt market in the immediate future. Introducing a minimum free float is one measure that the SEC is currently contemplating in order to increase the liquidity of the market.

In conclusion I wish to express my appreciation for the unstinted cooperation of the Commissioners, management and staff of the SEC for their professionalism, commitment and support for the smooth functioning of the Commission. With the support of all those mentioned, I look forward to carrying out our Mission, i.e “To promote, develop and maintain a capital market that is fair, efficient, orderly and transparent” and making it a reality in 2012.
http://www.ft.lk/2012/06/07/sec-made-significant-strides-in-2011-chairman-karunaratne/

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum