CB suspends NatWealth Securities’ biz activities for 6 months

The Monetary Board of the Central Bank of Sri Lanka (CBSL) has suspended NatWealth Securities Limited (NWSL) from carrying on the business and activities of a primary dealer for a period of six months, with effect from June 1, 2020.

The Central Bank said the suspension was due to the continuous failure by NatWealth Securities to comply with the regulations of the Registered Stocks and Securities Ordinance and Local Treasury Bill Ordinance.

“The CBSL will take necessary measures to ensure that this regulatory action does not have a disruptive impact on the government securities market,” a Central Bank statement said.
“Action will also be taken to facilitate the handling of the interests of the customers and counterparties of NWSL in an orderly manner,” it added.