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

AI CHAT

Latest topics

» බැංකු අංශයේ කොටස් කඩා වැටෙයිද?
by DeepFreakingValue Today at 10:48 pm

» Sri Lanka: Central Bank "burns" it's meagre Reserves
by blindhog Today at 8:52 pm

» Congress passes bill to keep the government open, averting a shutdown
by ResearchMan Today at 2:51 pm

» SRI LANKA: Tourist Accommodations
by DeepFreakingValue Today at 12:58 pm

» Sri Lanka: Banking Sector Crisis Looming!
by DeepFreakingValue Today at 10:03 am

» September has come and gone, and SL remains bankrupt
by God Father Today at 9:23 am

» Sri Lanka: Financial Sector Unsoundness Indicators - Q2 of 2023
by DeepFreakingValue Fri Sep 29, 2023 6:55 pm

» How will Non Performing Loans (NPL's) affect the Valuations of Banking Sector shares?
by DeepFreakingValue Fri Sep 29, 2023 5:34 pm

» ASSOCIATED MOTOR FINANCE COMPANY PLC (AMF.N0000)
by Equity Win Thu Sep 28, 2023 9:55 am

» Growing interest for Port City Colombo from potential investors
by Shiranli Tue Sep 26, 2023 12:13 pm

» PROPERTY BUBBLE IS IMMINENT !
by sandamal Tue Sep 26, 2023 12:08 pm

» HOTEL AND TRAVEL SECTOR
by GOSL Tue Sep 26, 2023 10:35 am

» LOLC Group: Ready to be the Market Leaders!
by D.G.Dayaratne Mon Sep 25, 2023 6:35 pm

» TRADING SUSPENSION of NHL
by sandamal Mon Sep 25, 2023 11:10 am

» PRIME LANDS RESIDENCIES PLC (PLR.N0000)
by ashan silva Mon Sep 25, 2023 10:04 am

» LCBF Future
by ErangaDS Sun Sep 24, 2023 9:08 pm

» BUY EAST WEST
by skyfall Fri Sep 22, 2023 12:32 pm

» LAND AND PROPERTY SECTOR
by samansilva Fri Sep 22, 2023 1:36 am

» Prime Land Residencies (PLR. N0000) record phenomenal profits in 2Q2022
by rukshan1234 Thu Sep 21, 2023 10:57 pm

» PACK.NOOO will acquire another corrugated company Pending news
by atdeane Thu Sep 21, 2023 12:44 pm

LISTED COMPANIES

Submit Post
Poll

US$ EXCHANGE RATE PREDICTION 2023

“SEC responsible for downfall” - Dr.Nalaka Godahewa (former Chairman SEC) Vote_lcap9%“SEC responsible for downfall” - Dr.Nalaka Godahewa (former Chairman SEC) Vote_rcap 9% [ 26 ]
“SEC responsible for downfall” - Dr.Nalaka Godahewa (former Chairman SEC) Vote_lcap8%“SEC responsible for downfall” - Dr.Nalaka Godahewa (former Chairman SEC) Vote_rcap 8% [ 24 ]
“SEC responsible for downfall” - Dr.Nalaka Godahewa (former Chairman SEC) Vote_lcap16%“SEC responsible for downfall” - Dr.Nalaka Godahewa (former Chairman SEC) Vote_rcap 16% [ 47 ]
“SEC responsible for downfall” - Dr.Nalaka Godahewa (former Chairman SEC) Vote_lcap18%“SEC responsible for downfall” - Dr.Nalaka Godahewa (former Chairman SEC) Vote_rcap 18% [ 51 ]
“SEC responsible for downfall” - Dr.Nalaka Godahewa (former Chairman SEC) Vote_lcap16%“SEC responsible for downfall” - Dr.Nalaka Godahewa (former Chairman SEC) Vote_rcap 16% [ 47 ]
“SEC responsible for downfall” - Dr.Nalaka Godahewa (former Chairman SEC) Vote_lcap25%“SEC responsible for downfall” - Dr.Nalaka Godahewa (former Chairman SEC) Vote_rcap 25% [ 72 ]
“SEC responsible for downfall” - Dr.Nalaka Godahewa (former Chairman SEC) Vote_lcap7%“SEC responsible for downfall” - Dr.Nalaka Godahewa (former Chairman SEC) Vote_rcap 7% [ 19 ]

Total Votes : 286

ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


CONATCT US


Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer



EXPERT CHRONICLE™

ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)



CHRONICLE™ YouTube


You are not connected. Please login or register

“SEC responsible for downfall” - Dr.Nalaka Godahewa (former Chairman SEC)

Go down  Message [Page 1 of 1]

samaritan

avatar
Moderator
Moderator

“SEC responsible for downfall” - Dr.Nalaka Godahewa (former Chairman SEC) 1

Former Chairman of the Securities Exchange Commission (SEC) and State Minister of Urban Development, Coast Conservation, Waste Disposal and Community Cleanliness, Dr. Nalaka Godahewa lashed out at the Securities and Exchange Commission (SEC) and said that they were mainly responsible for the downfall of the Colombo Stock Exchange.

Dr. Godahewa told Daily News on the sidelines of Advocata’s Panel Discussion on: “The Future of Ports Development in Sri Lanka” at BMICH on Friday said that the Stock Market was catching up and moving up and ‘probably getting a little hot’ but the recent crash was due to unnecessary communications by the Colombo Stock Exchange (CSE).

“When you name companies and issue directives basically you are telling the people don’t buy. These are dangerous stocks. This is the last thing you should do. It was not very wise of them to have done that.”
He recalled that before he became the Chairman of SEC there were similar problems with SEC. “They never managed the sentiments of the market and kept on meddling with the market. Now it has begun crashing.”

According to Bloomberg statistics, within the first few weeks of Dr Godahewa’s appointment as SEC head in 2012 the market bounced back from the world’s worst-performing stock market status to the third best performing stock market status.

Authorities must understand that if they like it or not, markets are driven by sentiments anywhere in the world and this should be understood and be sensitive.”
He said that he is not opposing investigations on companies. “But for ‘heavens sake’ investigate secretly and don’t advertise to the world because the market will crash. Also if there are any wrongdoings punish them.”


He said that he was with the SEC and knows that they have a very advanced surveillance scheme to detect any manipulations and based on that investigations could be carried out without bringing them to the public. He said that the authorities have now realized their mistakes and this is the reason for the market to settle. But they should not repeat these mistakes.”

He also said that the investors too should be wise not to be scared by these investigations.

https://www.dailynews.lk/2021/02/16/business/241679/%E2%80%9Csec-responsible-downfall%E2%80%9D
Unquote:
In my opinion there may have been an hidden agenda to undermine the investor sentiment triggering market downfall. Will the subject Minister get to the root of this whole episode???

Vishwanarth and David VKMS like this post

Share this post on: reddit

This is petty politics.
for a change, how about all of us(SEC ,BROKERS AND INVESTORS) take the blame and try to act more responsible manner in the future. Then we all can enjoy the success of CSE.
NOTE.. short cut to success may cause pain to more and joy to few.

Kipling likes this post

celtic tiger wrote:This is petty politics.
for a change, how about all of us(SEC ,BROKERS AND INVESTORS) take the blame and try to act more responsible manner in the future. Then we all can enjoy the success of CSE.
NOTE.. short cut to success may cause pain to more and joy to few.
The allegations have been levelled by no one other than former Chairman of SEC which demands and warrants an explanation without just labelling it as petty politics and brushing it aside.

One of CSE regulation is not allowed to built MONOPOLY in same industry. Who allowed to come under one umbrella in TILE market?

samaritan and judecroos like this post

CSE Joke of the century by former SEC chief.

judecroos likes this post

Back to top  Message [Page 1 of 1]

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