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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » No investigations yet on EPF transactions

No investigations yet on EPF transactions

2 posters

Go down  Message [Page 1 of 1]

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics

UNP MP Dr. Harsha de Silva yesterday admitted that so far no investigations had commenced by SEC with regard to EPF’s investments in the stock market.

“The UNP has proposed a Parliamentary Select Committee to investigate EPF dealings in the stock market,” he said in response to a question as to why the SEC hadn’t investigated any of the allegations levelled by the UNP over questionable EPF deals in the stock market.

“We started the process of calling for accountability on the part of the people who manage the EPF and now trade unions and people are rallying for the same cause,” the UNP MP said.

He also said that despite several questions over EPF investments raised in Parliament for eight months, when the UNP asked for details, the EPF had wanted six more months to reply.
http://www.ft.lk/2012/08/16/no-investigations-yet-on-epf-transactions/

aj


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

I remember in the COPE meetings I think Thilak said SEC don't have any power to investigate what EPF buys, some junk at high price. EPF responsibility goes to Central Bank of people's democractics, socilaist of Sri Lanka republic something.
True, if EPF tries to pump and dump the junk at people at high prices then SEC can intervene.

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