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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » SEC Chief says no division

SEC Chief says no division

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1SEC Chief says no division Empty SEC Chief says no division Tue Aug 14, 2012 1:13 am

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
In response to the Daily FT’s article yesterday titled ‘SEC split?’ SEC Chairman Tilak Karunaratne has sent the following statement.

I, as the Chairman of the Securities and Exchange Commission of Sri Lanka (SEC), write in reply to the front page main article in the Daily FT of 13 August 2012 under the heading ‘SEC Split?’

In the aforesaid article the writer has stated that “The Daily FT learns that several Commissioners have objected to the Chairman’s proposal saying Dissabandara isn’t fully competent to function in a permanent role. If he was to be made permanent prior approval from Ministry of Finance must be obtained, some of the dissenting Commissioners had emphasised. There had been differences of opinion over the duration of his tenure if considered for permanency as well. Chairman had proposed two years initially.”

As the Chairman of the SEC, I would like to categorically refute the above statement. The proposal made by me which was discussed at the 304th Commission meeting held on 9 August 2012 was to recommend the Honourable Minster of Finance to confirm Prof. Hareendra Dissabandara in the post of Director General of the SEC. There was a discussion on this matter amongst the Commissioners without any other person being present and the final decision was to recommend to the Hon. Minister of Finance to appoint Prof. Hareendra Dissabandara as the Director General of the SEC initially for a period of one year.

I also state that there was no division in the Commission on this decision and all seven Commissioners present unanimously approved the decision as stated above. Two Commissioners were absent at this meeting.

Editor’s Note
Daily FT stands by its story.
http://www.ft.lk/2012/08/14/sec-chief-says-no-division/

2SEC Chief says no division Empty Re: SEC Chief says no division Tue Aug 14, 2012 1:19 am

Sandstorm

Sandstorm
Manager - Equity Analytics
Manager - Equity Analytics
Commission by majority voted for Dammika Perera to be the next Director General of the SEC.

3SEC Chief says no division Empty Re: SEC Chief says no division Tue Aug 14, 2012 1:25 am

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
@Sandstorm wrote:Commission by majority voted for Dammika Perera to be the next Director General of the SEC.

Any source for your comments?

4SEC Chief says no division Empty Re: SEC Chief says no division Tue Aug 14, 2012 2:33 am

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
Did anyone see the below comment


"There was a discussion on this matter amongst the Commissioners without
any other person being present
and the final decision was to recommend
to the Hon. Minister of Finance to appoint Prof. Hareendra Dissabandara
as the Director General of the SEC initially for a period of one year."

5SEC Chief says no division Empty Re: SEC Chief says no division Tue Aug 14, 2012 10:02 am

Sidath

Sidath
Manager - Equity Analytics
Manager - Equity Analytics
@Sandstorm wrote:Commission by majority voted for Dammika Perera to be the next Director General of the SEC.

sandstorm, where is your infor from? I was reading this
http://forum.srilankaequity.com/t21381-how-sec-blundered-the-appointment-of-the-dg#130812

and according to it. Dammika Perera was not even short listed. And besides common scene would tell me if "commission majority voted" for him, he would now be the DG.

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