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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Stock market association aims to be watchdog group

Stock market association aims to be watchdog group

5 posters

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sriranga

sriranga
Co-Admin
Independent investors in the stock market who have come together to form the Association of Independent Shareholders of Sri Lanka (AIS) aim to be a strong watchdog of the markets this year.

“There are many issues and concerns that affect independent minority shareholders and a socially responsible organized voice to fight for their rights is a paramount need,” noted K.C. Vignarajah, well-known good corporate governance campaigner and spokesperson for the AIS.

He said the AIS emerged following a widely acclaimed Business Times poll on the stock market in which respondents overwhelmingly called for the setting up of an independent body to represent the rights and responsibilities of investors who don’t have any controlling interests in listed companies.

A group set up to formalize the AIS is due to meet again later this month ahead of a proposed meeting of a larger body of dedicated independent investors in early February.

Mr. Vignarajah said they are currently examining several applications that have been received for membership of the association and these would be finalized at the next meeting. He said the delay in formalizing the association stems from a keenness to form the AIS as near a perfect body as possible to withstand all types of pressures from vested interest and the market mafia. They are currently going through the legal process ahead of registration.

“We hope to complete this process in a few weeks,” he said.

The group which includes respected business professionals and ‘truly’ independent shareholders has also had two meetings of a larger grouping of investors.They also held a briefing for the media in October to explain the formation of the association and the reasons behind it which included fighting against mafia-type deals in the stock market.

“The Business Times has acted actively as a dedicated facilitator of the group, while the need for such an organization has also received wide and enthusiastic print and electronic media support. We are grateful to all of them,” he said.
http://www.sundaytimes.lk/130106/business-times/stock-market-association-aims-to-be-watchdog-group-26716.html

http://sharemarket-srilanka.blogspot.co.uk/

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
Government or SEC will give due respect to this organisation?

traderathome

traderathome
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
kawda meke membar la afro

afoi lol! apinam nehe owata......

tahanam wachanaya :MAFI_

TAH Very Happy

Hanoifortune

Hanoifortune
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Market has entered the first phase of bull run, Hence It is better to dismantle this group as we do not need to voice out for next two years.

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics

I thought SEC was suppoed to be the watch dog. Guess people are unhappy with their past performance/

Mafia, manipulatio n etc :

As long as everybody ( retailers , big boys ) all get fair play some manipulation by someone is okay with me. Else there will be none to push shares up.

But I do not like deals where retailer holds a share for months at 32 and suddenly withing 10 mintues it is Rs 50. Illquid was trading at RS 2500 and suddently it drops to Rs 1000 in 1 day. Also what ablout the share that went from R 24 to 40 in a day . What about the 50% up or down rule?

Now whoever is involed in such acts are fair in my book. That wht we need a watch dog so it does not happen.

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