Why blame SEC?

celtic tiger · 1 Why blame SEC? Tue Feb 09, 2021 1:38 pm

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I think SEC did what they had to do in a very difficult situation with lots of pressure from powerful people to save CES and newcomers .
SHORT TERM PAIN FOR LONG TERM GAIN Wink

Enoka Fernandez · 2 Re: Why blame SEC? Tue Feb 09, 2021 2:08 pm

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SEC did a timely intervention, before could be repeated.

Enoka Fernandez · 3 Re: Why blame SEC? Tue Feb 09, 2021 2:09 pm

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Enoka Fernandez wrote:SEC did a timely intervention, before history could be repeated.

nigma · 4 Re: Why blame SEC? Tue Feb 09, 2021 2:31 pm

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කළ යුතුව තිබුණේ මෙවැනි තත්ත්වයක් ඇතිවෙයි කියා පුරෝකථනය කර අවශ්‍ය සැලසුම් සකස් කර තිබීමයි... ඒ වෙනුවට අශ්වයා පැන ගියාට පසු ඉස්තාලය වසා දැමීමක් තමයි කළේ.... SEC සැලසුම් නිසි ආකාරව සකස් කිරීමට නොහැකි තත්ත්වයක් තුළ අද සියලු දෙනාම එහි අනිටු ප්‍රතිවිපාක බුක්ති විඳින තත්ත්වයක් තමයි තියෙන්නේ

samaritan · 5 Re: Why blame SEC? Tue Feb 09, 2021 2:32 pm

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Enoka Fernandez wrote:SEC did a timely intervention, before could be repeated.

Whatever restrictions they should have enforced it long before and not resort to closing the stable after horse has bolted which led to All Time High followed by All Time Horror!

They should take responsibility for this lapse on their part.

judecroos · 6 Re: Why blame SEC? Tue Feb 09, 2021 2:38 pm

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nigma wrote:කළ යුතුව තිබුණේ මෙවැනි තත්ත්වයක් ඇතිවෙයි කියා පුරෝකථනය කර අවශ්‍ය සැලසුම් සකස් කර තිබීමයි... ඒ වෙනුවට අශ්වයා පැන ගියාට පසු ඉස්තාලය වසා දැමීමක් තමයි කළේ.... SEC සැලසුම් නිසි ආකාරව සකස් කිරීමට නොහැකි තත්ත්වයක් තුළ අද සියලු දෙනාම එහි අනිටු ප්‍රතිවිපාක බුක්ති විඳින තත්ත්වයක් තමයි තියෙන්නේ

100% agree with you. Smile

They never plan anything in advance. This is the reason why our country still remain in a debt trap.

madukp · 7 Re: Why blame SEC? Tue Feb 09, 2021 2:44 pm

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Wrong. SEC has taken poor decisions, and gov. issued immature gazette notices. Both were not good for small scale traders and investors. They had alright to implement corrective measures without harming the trend.

subash81 · 8 Re: Why blame SEC? Tue Feb 09, 2021 2:46 pm

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They should have done this is phase manner.
Some brokers giving 100% credit, it’s not good too, it’s ok around 25-30%, but not suddenly month by month should have reduced.

xhunter · 9 Re: Why blame SEC? Tue Feb 09, 2021 2:55 pm

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simply they did the right thing in the wrong way (good intention, no plan, bad execution).
if they did nothing ,end result would have been a disaster .

if their action made this kind of impact, that means there was a bubble developing around some shares.

Vishwanarth · 10 Re: Why blame SEC? Tue Feb 09, 2021 3:08 pm

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See CSE announced Luxapana Director dealing happened on 02 Feb only on 09th today .
why they cant work timely ?? They take long time gap for announcements that matters to investors.

At least they cant do basics what we talk then

Jana · 11 Re: Why blame SEC? Tue Feb 09, 2021 3:28 pm

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Nowadays every day turnover is nearly 5Bn and more .. CSE getting a huge amount of income as fees..

But We are losing money .. mostly we all trapped one or two months ago .. now no need the action..

At least we need to come out safely..

They always encourage the US.... CSE better than FD ..bring your money here then now we are losing our capital .. we don't worry about the interest but we don't want to loss our capital..

anyhow hope the market will move smoothly up

RJ1010 · 12 Re: Why blame SEC? Tue Feb 09, 2021 3:47 pm

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Vishwanarth wrote:See CSE announced Luxapana Director dealing happened on 02 Feb only on 09th today .
why they cant work timely ?? They take long time gap for announcements that matters to investors.

At least they cant do basics what we talk then

CSE is too lenient implementing these rules. The example you shared is somewhat ok... I have seen even months later companies disclose giving oversight as an excuse. Terrible.

Equityinvestor · 13 Re: Why blame SEC? Tue Feb 09, 2021 4:11 pm

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Doing the job and Doing the job properly are two things. A bus driver can drive a bus from kandy to colombo at 180 kmph and get to colombo after killing few people OR he can drive safe and get to Colombo a little late. Can we say the first way as he 'did his job'??

Vishwanarth · 14 Re: Why blame SEC? Tue Feb 09, 2021 5:22 pm

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There are many world class software developers in our country. Caterings better platform to the little investor base is a simple thing. But they don't. Despite boasting every day investor supporting, education, ICT bla bla even basics are ignored .
Updating real time Accounts submission, announcements and data is a very ordinary thing today organizations. But it also not happening. How many responsible peoples are getting benefits and salaries but they don't care basic requirements needed for their prime stakeholder know as Investor.

mah2903 · 15 Re: Why blame SEC? Tue Feb 09, 2021 9:40 pm

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We all need to bring the issues to CSE. I am not sure whether there are any platform to address the major issues independently even now we have a separate ministry of Capital Market. I am addressing the below.
1. The circular issued by CSE severely damaged the momentum. I understand you need to give a time to settle the price time to time but not at the cost of some challenging stock like EXPO,GLAS,BIL, SIRA. There may some direct involvement to divert the retail investor to other stocks. Even some brokerage firms too behind these so called circular.
2. Atrade system is obsolete system. we talk about we need to expand the listed company and investors. do we have any system to accommodate the number of investors and companies. this year we all know so many times the system failed to cater the service. even I am finding difficulty to run the statement of account in night. This system is not delivering at least the basic features. even recently implemented mobile application has lot of issues. it seems like it developed only to open CDS account. Try to implement a good system with the people who can run smoothly. we are not shortage of such people.
3. Legislation to be updated and it should be suited to our country including punishment for wrong doers.

Let's hope for a better stock market in Sri Lanka.

Vishwanarth · 16 Re: Why blame SEC? Tue Feb 09, 2021 9:55 pm

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If they conduct online meeting we can talk these issues openly.

judecroos · 17 Re: Why blame SEC? Tue Feb 09, 2021 9:58 pm

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Vishwanarth wrote:If they conduct online meeting we can talk these issues openly.

No point of talking to this useless people.

celtic tiger · 18 Re: Why blame SEC? Wed Feb 10, 2021 12:53 pm

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nigma wrote:කළ යුතුව තිබුණේ මෙවැනි තත්ත්වයක් ඇතිවෙයි කියා පුරෝකථනය කර අවශ්‍ය සැලසුම් සකස් කර තිබීමයි... ඒ වෙනුවට අශ්වයා පැන ගියාට පසු ඉස්තාලය වසා දැමීමක් තමයි කළේ.... SEC සැලසුම් නිසි ආකාරව සකස් කිරීමට නොහැකි තත්ත්වයක් තුළ අද සියලු දෙනාම එහි අනිටු ප්‍රතිවිපාක බුක්ති විඳින තත්ත්වයක් තමයි තියෙන්න

during Yahapalana time SEC tried that and how many of you made money from CSE ??

Wickyz · 19 Re: Why blame SEC? Wed Feb 10, 2021 1:39 pm

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apinam kalinma sell kara

RJ1010 · 20 Re: Why blame SEC? Wed Feb 10, 2021 2:01 pm

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Credit clearing mega sale is on

Well done @Wickyz... as some mentioned here it’s good to book profits from time to time. I think you can go shopping today since you have funds!

Wickyz · 21 Re: Why blame SEC? Wed Feb 10, 2021 2:09 pm

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step by step buying

judecroos · 22 Re: Why blame SEC? Wed Feb 10, 2021 2:18 pm

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Wickyz wrote:step by step buying

SEC people must have planned this situation to buy low for them or for their henchaias ? Can't we think like that ? Because this is Siri Lanka.

RJ1010 · 23 Re: Why blame SEC? Wed Feb 10, 2021 2:25 pm

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Wickyz wrote:step by step buying

Sale might not last long.. better grab the designer brands. I grabbed some SUN.. HHL too at a great price... infact everything seems to be at a great price today! Can’t decide

Wickyz · 24 Re: Why blame SEC? Wed Feb 10, 2021 2:27 pm

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keep watching

samaritan · 25 Re: Why blame SEC? Wed Feb 10, 2021 2:28 pm

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RJ1010 wrote:

Wickyz wrote:step by step buying

Sale might not last long.. better grab the designer brands. I grabbed some SUN.. HHL too at a great price... infact everything seems to be at a great price today! Can’t decide

What if it is available at a greater bargain price tomorrow??? Why blame SEC? Icon_biggrin

Shall wait for that.

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Why blame SEC?

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