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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Capital market industry cannot be sacrificed for the benefit of few – SEC Actg. DG

Capital market industry cannot be sacrificed for the benefit of few – SEC Actg. DG

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Malika1990

Malika1990
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Sri Lanka’s Securities and Exchange Commissions Acting Director General Professor H. Dissabandara says the local capital market industry cannot be sacrificed for the benefit of few market players.
His statement comes as the Securities and Exchange Commission is under fire from certain quarters in the market for bringing in laws which they describes as “adhoc” and the ones that hinder the growth of the market.
However, the acting Director General of the SEC says, the regulator is there to ensure that the capital market industry is operated in an orderly and fair manner thus protecting the rights of all investors.
When asked weather the SEC Chairperson Thilak Karunaratne is under pressure to resign as reported by certain media outlets, Dissbandara said, “If the story is true, then we are going to repeat the same mistakes we did eight months ago”
Indrani Sugathadasa who was the SEC Chairperson before Karunaratne took over resigned eight months ago, saying she wants to uphold her principles
Sugathadasa also told News360.lk “Having considered the unfolding circumstances I decided to tender my resignation” thus hinting that she was under pressure.
Her resignation was sudden, and before that Malik Cader, former DG was moved out of the SEC by promoting him as an adviser to the Ministry of Finance on Capital market.
In response to the question weather Karunaratne is under pressure to resign, Dissabandara asked “What wrong has he done to go”.
He also says if the story is true, first it was Sugathadasa, then Karunarathe and questions “who is next”?.
http://www.news360.lk/markets/stock-market/news-sri-lanka-14-08-2012-capital-market-industry-cannot-be-sacrificed-for-the-benefit-of-few-%E2%80%93-sec-actg-dig-884453

aj


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Dissabandara's name came up lot saying the title is wrong, wording is wrong, he has no power, he's too short blah blah. So This guy Dissabandara and Thilak must have gone after the criminal investigations without us knowing for getting so much criticism and pressure. That's why HNW criminals got so terrified.
There must be prostitutes in the SEC who are not helping out with the investigations, who are pimping for the HNW criminals. HNW criminals will try to get one of their prostitutes to the chair. I guess they will succeed. Criminals will go free. Everybody will sing Siri Lanka, Siri Lanka.

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