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.
FINANCIAL CHRONICLE™

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

LISTED COMPANIES

Submit Post

Poll

Can there be another Covid-19 wave in Sri Lanka?

 
 
 

View results

STOCK MARKET TRAINING
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


CONATCT US


Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer



Latest topics

» Government loan repayment
by shariff Today at 1:04 pm

» EDEN HOTEL LANKA PLC (EDEN.N0000)
by Bakkabwoi Today at 11:52 am

» What are the short term profit stocks you are planning to buy on this Monday? (Only honest ppl please)
by Hitazz Today at 11:49 am

» CITIZENS DEVELOPMENT BUSINESS FINANCE PLC(CDB.N0000)
by engineer Today at 11:41 am

» Sri Lanka's Foreign Reserves set to top US$ 7 Billion - Cabraal
by samaritan Today at 11:34 am

» Tea industry expected to contribute $ 200 million extra revenue to public coffers
by samaritan Today at 11:25 am

» RIL JOURNEY
by Karthick Today at 11:09 am

» LMF target price+++++
by GayanKK Today at 10:03 am

» ASIA SIYAKA COMMODITIES PLC (ASIY.N0000)
by RJ1010 Today at 8:45 am

» Tomorrow top gainers PALM & NIFL
by Tissa Yesterday at 9:39 pm

» Directors' Dealings today
by SAGA Yesterday at 8:55 pm

» Sri Lanka’s Forex Reserves to exceed US$7 Billion by end 2021
by D.G.Dayaratne Yesterday at 8:09 pm

» Sri Lanka to Repay $1 Billion Bond, Ending Default Threat
by SAGA Yesterday at 5:35 pm

» Top crossings today
by SAGA Yesterday at 3:13 pm

» CABO -- “ The Investment Company ” under Land & Building Sector
by ADVENTUS Yesterday at 12:51 pm

» RAIGAM WAYAMBA SALTERNS PLC (RWSL.N0000)
by Rational Investor Yesterday at 12:43 pm

» PALM should be above Rs120
by SAGA Yesterday at 11:49 am

» SEMB the ASPH
by Big Bull Yesterday at 11:14 am

» VALLIBEL FINANCE PLC (VFIN.N0000)
by Value Pick Yesterday at 10:11 am

» RENUKA CAPITAL PLC . KZOO.N
by Wickyz Yesterday at 9:54 am

EXPERT CHRONICLE™

MARKET CHAT


CHRONICLE™ ANALYTICS


ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)


CHRONICLE™ YouTube

LATEST TWEETS

You are not connected. Please login or register

FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Public concern grows over SEC crisis

Public concern grows over SEC crisis

Go down  Message [Page 1 of 1]

1Public concern grows over SEC crisis Empty Public concern grows over SEC crisis Sun Aug 19, 2012 3:43 am

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
A public rights activist and former chairman of the Ceylon Chamber of Commerce, has joined a chorus of protests and concerns at the state of affairs at the Securities and Exchange Commission (SEC). Commission Chairman Thilak Karunaratne resigned on Friday after repeated attempts to scuttle the institution’s investigations and probes against market manipulation. His opponents – a powerful group of investors with regular access to the President – have complained that these probes were hurting sentiment in the market and not stimulating activity.

In a letter to parliamentarian D.E.W. Gunasekera in his capacity as Chairman of the Committee on Public Enterprises (COPE), Chandra Jayaratne said that he was sad at the recent news reports published since the recent COPE review of the SEC and its regulatory operations.

“I am happy that living up to public expectations of COPE, you have initialed a review of the Securities Exchange Commission and its regulatory operations. I fully support your directing the said review and expanding its scope to go beyond the narrow confines of an oversight of the financial performance of independent regulators in order to ensure their observance of financial discipline in their operations. I believe that so long as such reviews do not impinge on the operational independence and not directive in nature and are conducted within a framework of serving a role similar to that assigned to an audit committee; it will serve the interests of all stakeholders, including the state as well as the regulatory body concerned,” the letter said.

But he expressed concern over the continuing pressure and external interference on the Chairman and Board of Directors of the SEC especially at a time when there are initiatives led by the Chairman to have in place effective and best practice regulations which will ensure a stable, sustainable and professional securities market and will assure long term growth and rewards to all stakeholders.

Mr Jayaratne said the role of the COPE must extend to ensuring that operational freedom, independence, international best practice embedded operating rules and regulations and unrestricted enforcement capability are in place for the Chairman, the Board and the professional management team to effectively discharge their duties.

It is only in such an operating environment as described above, that necessary reforms, effective regulations, operating rules with effective governance and enforcement will be possible, meeting long term goals and satisfying stakeholder expectations, he added.

He appealed to COPE to support the urgent and priority need for the securities market regulators to be empowered and enabled them to exercise their independence and professionalism in the development of regulation.
http://www.sundaytimes.lk/120819/business-times/public-concern-grows-over-sec-crisis-8836.html

2Public concern grows over SEC crisis Empty Re: Public concern grows over SEC crisis Sun Aug 19, 2012 9:13 am

Kithsiri

Kithsiri
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
The Public is aware and concerned but very little of them will translate in to real actions due to the present suppressive scenario.
So if a democratic transition is expected then it will be a foolish expectation.
What we need is a sort of “ Peoples Power uprising “ thing we saw a few years ago in Philippines.
But if the present opposition thinks that they are the right people to lead it then it will also be a very foolish assumption as they are also part of the problem and not the Solution.

Back to top  Message [Page 1 of 1]

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