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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ »  Persistent UNP MP Harshe questions new SEC appointments

Persistent UNP MP Harshe questions new SEC appointments

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Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
A vociferous and vibrant opposition parliamentarian has blasted the Ministry of Finance over the recent appointment of ‘professionals’ as commissioners of the Securities & Exchange Commission (SEC).

“Is the government’s message to go ahead and engage in fraud at the CSE (stock exchange) without worrying about getting caught? If the minister of finance was genuinely concerned in re-establishing a fair and equitable regulatory regime at the CSE would he have appointed persons with strong connections to entities being investigated for alleged securities fraud? Could he not have found three persons from hundreds of honest and untainted professionals in this country for the job?” UNP MP Harsha de Silva asked in a statement.

“Is it not understood that the perception of being clean is as important as being clean; particularly in the background of serious allegations of fraud?” his media statement said.

Referring to media reports, he said that at least two of the three new appointees to the Commission are connected to one or more entities including new chairman Dr Nalaka Godahewa who is connected to at least Colombo Land and Development Company as its chairman and Citrus Leisure (formerly Hotel Reef Comber). Former Central Banker Priyantha Fernando is connected to at least Tabrobane Holdings whose stock broking arm was embroiled in the now cancelled deal involving NSB and The Finance Company.

“It is noteworthy that he headed the Central Bank’s investment committee of the EPF only months prior to being appointed to the board of Tabrobane,” Dr de Silva said.

He said in the background where the ministry of finance is continuously withholding information on CSE transactions even from Parliament ‘it is ironic that the government sees it fit to appoint people connected to entities accused of fraud to regulate the CSE’.

This, he noted, is a sad new chapter that ‘we’ as a country have entered into.

“Actions like these will only harm confidence in the markets and discourage genuine investments sorely needed for development of the country.

If the minister of finance is honestly interested in the sustainable development of Sri Lanka and the well-being of her people then he should cancel these appointments and make fresh choices from those who are unconnected entities being investigated,” the statement added.
http://sundaytimes.lk/index.php?option=com_content&view=article&id=23678:persistent-unp-mp-harshe-questions-new-sec-appointments&catid=77:news&Itemid=563

K.Haputantri

K.Haputantri
Co-Admin
The opposition should have a transpatent & robust action plan in order to tackle incidents of this nature. Mere expression of opinion by one or two lone crusaders would be useless without such a plan with the blessings of the Leader. Otherwise, he would compromise this over a cup of coffee.

There are others in the opposition but on the fense supporting the manipulaters while trying to jump. Dayasiri, an opposition member in the COPE recently said SEC is over regulated. The only check & balance available in the legislature is being eroded. We investors now have to look after ourself.

Any way we should be grateful to Harsha for his lone battle.

RANGANA PERERA


Manager - Equity Analytics
Manager - Equity Analytics
MARKET GOING DOWN MR HARSHA VERY HAPPY
MARKET GOING UP MR HARSHA CRYING

ranferdi

ranferdi
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@RANGANA PERERA wrote:MARKET GOING DOWN MR HARSHA VERY HAPPY
MARKET GOING UP MR HARSHA CRYING
Devil smiles only at burial Grounds..
He only expects to bring Markets further down because he needs the economy of country to collapse, But at the expense of whom? Poor retailers.
I am not a supporter of this Government but people should not touch very sensitive areas of the country because of their greed to power.
That is where UNP is not realising, All the idiots cannot find a proper leader still they want to topple government. " Balla piduru kanneth na,,Kana Gonata denneth na....

http://::::THIS EMAIL DOESNT WORK.. PLEASE CONTACT ME ON FB ACCO

traderathome

traderathome
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Dan terenewa ne , me economist ge denuma tarama Very Happy

He is a Fool and eating shit....

Its bankrupt party.....until and unless the membership do something to kick the leader out.....

It will be the 1st of a kind in srilankan politics.

cheers

gamaya


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Just remember in early 2011 he told CSE is in a bubble. Was it right or not?

D.G.Dayaratne


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
What he said was correct in 2011
But Dr Harsha do not like to see upward trend as a opposition MP
When there is some improvement in stock market he used to
call press conference use his knowledge to hit the market

IF HE IS SO ANTI CORRUPTION MAN HE CAN'T BE A MEMBER OF UNP

Dr Harsha pl make constructive criticism I fully agree with your effort to
control use of public funds to manipulate stock market.

traderathome

traderathome
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@D.G.Dayaratne wrote:What he said was correct in 2011
But Dr Harsha do not like to see upward trend as a opposition MP
When there is some improvement in stock market he used to
call press conference use his knowledge to hit the market

IF HE IS SO ANTI CORRUPTION MAN HE CAN'T BE A MEMBER OF UNP

Dr Harsha pl make constructive criticism I fully agree with your effort to
control use of public funds to manipulate stock market.
why he is not so vociferous and vibrant regarding the appointments and extensions on leaders 6 year term.......and his stooges.

can i know from where he is talking........ bounce

can anyone post what he said in 2011..........please regarding the so called bubble.....

Regards
TAH

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