According to reliable sources former Chairman of the SEC and Insurance board of Sri Lanka Dr Dayanath Jayasuriya is considered to be re-appointed as the new Chairman of the SEC upon resignation of the current Chairman.
Brief Profile of Dr Jayasuriya is given below:
Dr Dayanath Jayasuriya LL.B.; Ph.D.; FICA (U.K.); Hony FSASL (U.K.); MSID (Singapore); and Attorney-at-Law spent ten years in the Attorney-General’s Office in Sri Lanka where he appeared in many important financial services law cases and thereafter was out of the country for more than 25 years working for the United Nations and its specialized agencies in Geneva, Vienna, Bangkok, New Delhi and Islamabad. Returning to Sri Lanka in 2000, he was appointed as the Director General and C.E.O. of the Securities and Exchange Commission and the Insurance Board of Sri Lanka and held these posts until 2003; in 2004 he was appointed as the Chairman of both these agencies. He is the Founder Chairman of the South Asian Insurance Regulators’ Forum. In 2005 he hosted in Sri Lanka the IOSCO Annual Conference and served as the Chairman of the IOSCO President’s Committee. Under his Chairmanship IOSCO adopted a series of major recommendations for the future direction of IOSCO and the regulation of capital markets.
In February 2010 Dr Jayasuriya took ‘silk’ as a President’s Counsel (previously Q.C.) of Sri Lanka.
Dr Jayasuriya’s assignments for the United Nations have included that as the Chief Technical Adviser to the United Nations International Drug Control Programme and as the head of the UNAIDS Secretariat in Pakistan. He served as a member of the UN Expert Panel for the drafting of model anti money laundering legislation. He has been a consultant to W.H.O.; UNDP; UNEP; UNODC; UNESCO; ADB etc. to over 25 countries in Europe, Asia, Africa, the Caribbean, South America and the Pacific.
From 2007- 2008 Dr Jayasuriya was based in Singapore as the Regional Director (Academic Affairs) of the International Compliance Association, U.K. and conducted one year training programmes in compliance and AML for bankers, stock brokers, fund managers etc.
Currently he is the Managing Partner of the newly established Corporate Governance Advisory Services Pte Ltd.- a consultancy firm registered in Singapore specialising in the area of corporate governance advisory services for companies in Asia and the Middle-east. He also serves as an arbitrator and as an adviser to various firms and professional associations.
He has written more than 20 books, 25 monographs and published over 200 articles. His publications cover corporate governance, commercial law, money laundering and terrorist financing, compliance and regulatory risks, stock market operations, corporate governance and several other issues of concern to banks and other financial institutions. He is on the editorial board of several British journals such as The Company Lawyer, Journal of Financial Crime, Journal of Money Laundering Control and Journal of Qualitative Research in Financial Markets.
As a Visiting Professor of Law at the University of the Free State in South Africa (2007-2013) he teaches subjects such as Corporate Governance and Financial Crime and supervises students. He has lectured at Harvard University, Boston (where he was a Visiting Scholar); University of London; Cambridge University: University of Sydney; University of Tasmania: University of Montreal: Delaware Law School etc. He is a Distinguished Visitor at the Georgetown Law School, Washington D.C. for 2008-2011. He has been a guest speaker at the annual Symposium on Economic Crime at Jesus College Cambridge for the past 15 years on subjects such as corporate governance, corruption, money laundering, terrorist financing and corruption. Dr Jayasuriya has trained Judges, regulators, bankers, company lawyers, company directors etc. in many countries around the world.
Dr Jayasuriya is a director of the International Financing Facility for Immunisation Co.(IFFIMCo), the third largest charity in the United Kingdom, which has raised over US $ 2.5 billion through the sale of triple-A rated bonds in global capital markets. Funds have been raised against pledges of developed countries (e.g. U.K.; France; Norway; Italy; Spain; Sweden; South Africa) for immunization programmes. He is a member of its Audit Committee.
In Sri Lanka Dr Jayasuriya has served as a Director of the Public Utilities Commission; the Public Enterprises Reform Commission; National Procurement Agency and as a Trustee of the Construction and Guarantee Fund. He has extensive experience in dealing with infrastructure projects from the point of view of both financing as well as regulation.
Publications
Author of over 20 books and 25 monographs published by W.H.O.; UNDP; UNDCP; UNESCO; Commonwealth Secretariat etc. Author of two volumes on Company Law in Sri Lanka and another on consumer protection legislation. Over 200 articles have appeared in journals such as the International and Comparative Law Quarterly (U.K.); Commonwealth Law Bulletin (U.K.); Financial Regulator (U.K.); UN Bulletin on Narcotics (USA); International Digest of Health Legislation (Switzerland); Journal of Money Laundering Control (U.K.); Journal of Financial Crime (U.K.) etc. published in over 25 countries The following is a selected list; complete list available on request.
Books
Narcotics and Drugs in Sri Lanka: Socio-Legal Dimensions, Asian Pathfinder Publishers. 1st ed.: 1977; 2nd ed.: 1986.
Regulation of Pharmaceuticals in Developing Countries: Legal
Issues and Approaches, 1985, W.H.O., Geneva (also in French and
Spanish)
Global Drugs Law (Senior editor), New Delhi, Har-Anand Publishers, 1997.
Guide to the Consumer Affairs Authority Act, Asian Pathfinder Publishers, 2004, 204 pages
Money Laundering, Financial Transactions Reporting and Terrorist Financing- Sri Lankan Legal Perspectives, Zeylan Press, Boston, 2007, 215 pp.
Monographs
AIDS: Health, Policy and Legal Aspects, Commonwealth
Secretariat, London, 1st ed.1992; 2nd edition: 1997.
The Regulation of Money Laundering: A New Challenge to a Global Problem. Central Bank of Sri Lanka, Occasional Papers No. 36, 2000.
Legal and Regulatory Framework Relating to Insurance in South Asian Countries, Colombo, South Asian Insurance Regulators’ Forum, 2002 (Editor)
Contributions to Legal Encyclopedia etc.
“Criminal Procedure” in Kritzer H.M. ed. Legal Systems of the World, Santa Barbara, ABC-CLIOI Inc., 2002, Vol. 1 (Senior author)
Singapore Corporate Compliance Manual, May 2008, CCH Asia Pte Limited (co-author)
Articles
“Some Reflections on Drug Abuse Preventive Education”, Medico-
Legal Journal, Vol. 42 (4), 1974.
“The Burden of Proof in Drug Offences in Asian Countries and the
Influence of English Law”, International and Comparative Law
Review, Vol. 30 (4), 1981.
“Recent Company Law Reforms in Sri Lanka”, Commonwealth Law Bulletin, Vol. 10, 1984.
“Penal Measures for Drug Offences: Perspectives from Some Asian Countries”, UN Bulletin on Narcotics, Vol. XXXVI, 1984.
“Regulating the Securities Market in a Developing Economy”, Company Lawyer, Vol. 10, 1989.
“Red Light for Drug Traffic”, Far East Health, Vol. 11, 1990.
“Counterfeit Drugs: Some Policy and Legal Aspects”, Commonwealth Law Bulletin, Vol. 19, 1993.
“Money Laundering: the Role of Legislation in Developing Economies”, Journal of Money Laundering Control, Vol. 1(3), 1998.
“Countering Money Laundering: The Global Challenge after the World Drug Summit”, Journal of Money Laundering Control, Vol. 4 (1), 2000.
“Money Laundering and Terrorism Financing: The Role of Capital Market Regulators”, Journal of Financial Crime, 2002.
“Economic Crime: Achieving Zero Tolerance”, The Financial Regulator, Vol. 8, 2003.
“Money Laundering in Stock Markets”, The Financial Regulator, Vol. 7 (4), 2003.
“Information Needs of Securities Market Regulators and Market Participants to Prevent Money Laundering”, Journal of the Institute of Chartered Accountants, 2004.
“With Economic Crime Taking Large Strides, Are Regulators Limping Behind?”, Journal of the Institute of Chartered Accountants, 2004.
“Corporate Reports: Need for Greater Disclosure and Clarity”, Journal of the Institute of Chartered Accountants, 2005.
“Auditors in a Changing Regulatory Environment”, Journal of Financial Crime, 2006.
“The Expanding Frontiers of International Law in the Fight against Corruption”, Amicus Curiae, Issue 67, Sep/Oct 2006,
“Sri Lanka’s New Terrorist Financing Legislation and Compliance Issues”, The Company Lawyer, Vol. 28, No. 11, 2007
“Good Corporate Governance for Banks- the Singapore Model”, The Island, 27 December 2007
“Sri Lanka’s New Companies Act”, The Company Lawyer, Vol. 29, No. 8, 2008
“Financial and Economic Sanctions Relating to Economic Crimes in Sri Lanka”, Journal of Financial Crime, Vol. 15, No. 4, 2008.
“Anti Money Laundering Efforts, Stock Market Operations and Good
Governance”, Journal of Qualitative Research in Financial
Markets, Vol.1, 2009.
“Update: Compliance and Corporate Governance Developments in Singapore” in Singapore Corporate Compliance Manual, May 2008, CCH Asia Pte Limited
Commissioned Books (under preparation)
Corporate Fraud- book commissioned by Sweet and Maxwell, Singapore
Anti Money Laundering Controls in ASEAN Countries- book commissioned by LexisNexis Singapore