SEC DG resigns

knockknobbler · 1 SEC DG resigns Fri Mar 22, 2013 7:10 pm

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SEC DG resigns
Friday, 22 March 2013 17:24

Director General of the Securities and Exchange Commission (SEC), Prof. Hareendra Dissabandara has tendered his resignation to be in effect from May 27, stating that he could not continue to work in his capacity based on his principles.

“Based on my principles and considering the current set up at SEC, I was compelled to take the decision to resign,” he told Daily Mirror online.
Earlier, Chairman of the SEC Thilak Karunarathne resigned from his post, alleging that ‘there was pressure from very powerful people’.
http://www.dailymirror.lk/news/27084-sec-dg-resigns.html

Redbulls · 2 Sri Lanka securities regulator resigns on principle Fri Mar 22, 2013 7:20 pm

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Mar 22, 2013 (LBO) - The director general of Sri Lanka's securities regulator, resigned Friday, becoming the fourth top official to leave the regulatory body in controversial circumstances in the last three years.

"Based on my principles, considering the present set up I decided to resign," Hareendra Dissa Bandara said, closely echoing the words of a former chairperson.

Dissa Bandara, a professor of finance at Sri Lanka's Sri Jayewardenepura University, will go back to full time teaching. Even while at the SEC he continued to lecture at the university.

In December 2011 then SEC chairperson Indrani Sugathadasa said she resigned after "having considered the unfolding circumstances and upholding my principles," weeks after then DG Malik Cader was made a consultant in the finance ministry by the cabinet of ministers.

Her replacement, Tilak Karunaratne also resigned later.
http://lbo.lk/fullstory.php?nid=1334704082

kelum · 3 Re: SEC DG resigns Fri Mar 22, 2013 7:24 pm

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monday onwards market will be up......(my personal idea only)..

dsam · 4 Re: SEC DG resigns Fri Mar 22, 2013 7:34 pm

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At last we have something to talk.

Redbulls · 5 Re: SEC DG resigns Fri Mar 22, 2013 8:09 pm

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kelum wrote:monday onwards market will be up......(my personal idea only)..

May be other way around.

stockboy · 6 Re: SEC DG resigns Fri Mar 22, 2013 8:16 pm

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DAMMIKA PERERA WILL BE THE NEXT DG

notme · 7 Re: SEC DG resigns Fri Mar 22, 2013 8:21 pm

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kelum wrote:monday onwards market will be up......(my personal idea only)..

he is a well educated person and ideal character to be at sec .this is a bad news. affraid

RIO · 8 Re: SEC DG resigns Fri Mar 22, 2013 8:56 pm

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Why on Earth ...Cabbraal , PBJ & MR do not Resign...

takefawaz · 9 Re: SEC DG resigns Fri Mar 22, 2013 8:57 pm

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So Mr. Godahewa is able to work according to his principles?

takefawaz · 10 Re: SEC DG resigns Fri Mar 22, 2013 9:00 pm

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Market has just jumped the Geneva hurdle...

salt · 11 Re: SEC DG resigns Fri Mar 22, 2013 9:14 pm

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My personal opinion : this development is not good at all. The entire industry is in the hand of crooks

But, having said that final hurdle for the manipulator s is gone, market will take it positively ... At least mini run of Godahewa will be on Monday

wiki · 12 Re: SEC DG resigns Sat Mar 23, 2013 12:34 am

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RIO wrote:Why on Earth ...Cabbraal , PBJ & MR do not Resign...

CSE.SAS · 13 Re: SEC DG resigns Sat Mar 23, 2013 12:53 am

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RIO wrote:Why on Earth ...Cabbraal , PBJ & MR do not Resign...

traderathome · 14 Re: SEC DG resigns Sat Mar 23, 2013 1:17 am

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salt wrote:My personal opinion : this development is not good at all. The entire industry is in the hand of crooks

But, having said that final hurdle for the manipulator s is gone, market will take it positively ... At least mini run of Godahewa will be on Monday

whats happening ya pirat

traderathome · 15 Re: SEC DG resigns Sat Mar 23, 2013 1:19 am

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Harendra Disa Bandara studied at Matale St Thomas College and he was a head prefect during his days i guess.....

Sad

ShafrazShauk · 16 New Director General -Background Sat Mar 23, 2013 3:41 am

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One Sri Lankan Billionnaire Investor's Views:

in 1990's there was one official at Colombo stock exchange who used to changes Boards of traded stocks for the day when there was no internet trading and when there was no Automated Trading Systems...

but everytime stock exchange found out whenever he bought boards of traded quantities some numbers were missing..."It is how primitive manipulation happened'...he later became a top investigator on Stock market manipulation when internet trading and automated trading came to Sri Lanka..but also had infamous corporate friendships with Stock Brokering CEOs...never showed it to public nor to media heads or journalists but had a good relationship with media people...and now he is going to be the Director General of Securities and Exchange Commission of Sri Lanka...Imagine what will happen?

He got an 'Acting Position' for helping certain manipulations too...

Surprised to see when Taprobane gets a new CEO...A New Director General to Securities and Exchange Commission also...

And New Director General's brother also working for a stock brokering house at Kiribathgoda branch!...

ShafrazShauk · 17 Re: SEC DG resigns Sat Mar 23, 2013 3:54 am

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kelum wrote:monday onwards market will be up......(my personal idea only)..

One Sri Lankan Billionnaire Investor's Views:

in 1990's there was one official at Colombo stock exchange who used to changes Boards of traded stocks for the day when there was no internet trading and when there was no Automated Trading Systems...

but everytime stock exchange found out whenever he bought boards of traded quantities some numbers were missing..."It is how primitive manipulation happened'...he later became a top investigator on Stock market manipulation when internet trading and automated trading came to Sri Lanka..but also had infamous corporate friendships with Stock Brokering CEOs...never showed it to public nor to media heads or journalists but had a good relationship with media people...and now he is going to be the Director General of Securities and Exchange Commission of Sri Lanka...Imagine what will happen?

He got an 'Acting Position' for helping certain manipulations too...

Surprised to see when Taprobane gets a new CEO...A New Director General to Securities and Exchange Commission also...

And New Director General's brother also working for a stock brokering house at Kiribathgoda branch!...

http://unblocked.in/index.php?q=aHR0cDovL2ZvcnVtLnNyaWxhbmthZXF1aXR5LmNvbS90MjY4NzMtbmV3LWRpcmVjdG9yLWdlbmVyYWwtYmFja2dyb3VuZCMxNTcxNDA%3D##157140

Jana1 · 18 Re: SEC DG resigns Sat Mar 23, 2013 8:52 am

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"Colombo stock exchange who used to changes Boards of traded stocks for the day when there was no internet trading"

How? Could you elaborate pls?

ShafrazShauk wrote:

kelum wrote:monday onwards market will be up......(my personal idea only)..

One Sri Lankan Billionnaire Investor's Views:

in 1990's there was one official at Colombo stock exchange who used to changes Boards of traded stocks for the day when there was no internet trading and when there was no Automated Trading Systems...

but everytime stock exchange found out whenever he bought boards of traded quantities some numbers were missing..."It is how primitive manipulation happened'...he later became a top investigator on Stock market manipulation when internet trading and automated trading came to Sri Lanka..but also had infamous corporate friendships with Stock Brokering CEOs...never showed it to public nor to media heads or journalists but had a good relationship with media people...and now he is going to be the Director General of Securities and Exchange Commission of Sri Lanka...Imagine what will happen?

He got an 'Acting Position' for helping certain manipulations too...

Surprised to see when Taprobane gets a new CEO...A New Director General to Securities and Exchange Commission also...

And New Director General's brother also working for a stock brokering house at Kiribathgoda branch!...

http://unblocked.in/index.php?q=aHR0cDovL2ZvcnVtLnNyaWxhbmthZXF1aXR5LmNvbS90MjY4NzMtbmV3LWRpcmVjdG9yLWdlbmVyYWwtYmFja2dyb3VuZCMxNTcxNDA%3D##157140

notme · 19 Re: SEC DG resigns Sat Mar 23, 2013 11:13 am

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correct ? whats the reason for the resignation of of prof; Dissa Bandara ? this will destroy the confidence and may change the vision of traders as well. anyway lets plea for a good replacement .

D.G.Dayaratne · 20 Re: SEC DG resigns Sat Mar 23, 2013 12:25 pm

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When you compare appointments made by this govt to manage important institutions of the Economy any one can think who will be appointed

Person mentioned by ShfrasShunk has all the qualifications required by
appointment Authorities of this Govt

D.G.Dayaratne · 21 Re: SEC DG resigns Sat Mar 23, 2013 12:37 pm

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It is not possible to exists honest man in system managed by crooks

Mr Disa Badara is correct

Congratulations!

The Alchemist · 22 Re: SEC DG resigns Sat Mar 23, 2013 1:14 pm

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However bad this looks, we must not rush into hasty conclusions before all the facts are known. i read in another thread or online newspaper that Godahewa was quoted as saying Dissabandara's contract was expiring on 31st May 2013. Now we see him giving resignation to be effective on 27th May 2013. If Godahewa's statement is true, then giving in your resignation over 2 months in advance 4 days before your contracts expires anyway, is also a bit "strange" dont you think ? especially when we speak of principles etc.

worthiness · 23 Re: SEC DG resigns Sat Mar 23, 2013 1:16 pm

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Honest guys in local administration are effortlessly kicked off by majority of crooks who dominate entire system with the blessings of dirty politikkas. For an ordinary citizen it is a herculean task to get done required service in a routine manner from any local institute without bribing & having intermediaries. It is the endless cycle from top to bottom & bottom to top which cost billions of public funds through inefficiencies, malpractices & corrupted bureaucracy. Everyone is on the verge of whine.

Whitebull · 24 Re: SEC DG resigns Sat Mar 23, 2013 2:18 pm

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The Alchemist wrote:However bad this looks, we must not rush into hasty conclusions before all the facts are known. i read in another thread or online newspaper that Godahewa was quoted as saying Dissabandara's contract was expiring on 31st May 2013. Now we see him giving resignation to be effective on 27th May 2013. If Godahewa's statement is true, then giving in your resignation over 2 months in advance 4 days before your contracts expires anyway, is also a bit "strange" dont you think ? especially when we speak of principles etc.

Problem of our people is they do not think....They become emotional and start to cry and then forget after sometime. That is why our people can be easily manipulated. And it is a result of collapsing of morale of a nation due to various reasons.

rainmaker · 25 Re: SEC DG resigns Sat Mar 23, 2013 3:14 pm

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The end result is that this news item is passed via reuters. Some of the modern bloomberg terminals would get it automatically. When you sign up for this job, don't you sign on the 'states secrets' document?

It's more like the maths prof's son has decided to come back from his US job. He should accept it now. Work in the SEC will open doors to other opportunities Wink

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SEC DG resigns

1 SEC DG resigns Fri Mar 22, 2013 7:10 pm

knockknobbler

2 Sri Lanka securities regulator resigns on principle Fri Mar 22, 2013 7:20 pm

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4 Re: SEC DG resigns Fri Mar 22, 2013 7:34 pm

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5 Re: SEC DG resigns Fri Mar 22, 2013 8:09 pm

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10 Re: SEC DG resigns Fri Mar 22, 2013 9:00 pm

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11 Re: SEC DG resigns Fri Mar 22, 2013 9:14 pm

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12 Re: SEC DG resigns Sat Mar 23, 2013 12:34 am

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13 Re: SEC DG resigns Sat Mar 23, 2013 12:53 am

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15 Re: SEC DG resigns Sat Mar 23, 2013 1:19 am

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22 Re: SEC DG resigns Sat Mar 23, 2013 1:14 pm

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