Sun, 11 Apr 2021 Today's Paper

Market misconduct investigations to restart: Thilak

6 March 2015 04:01 am - 0     - {{hitsCtrl.values.hits}}

A A A

Capital market regulator, the Securities and Exchange Commission (SEC) will revive the investigations against the alleged capital market offenders involved in pumping and dumping of shares, leaving thousands of innocent retail investors destitute during 2010 and 2011, the re-appointed Chairman, Thilak Karunaratne said.

 

“We are reviewing some of these cases again and trying to do justice to those who have got played out,” Karunaratne said addressing the Sri Lanka Legal Summit 2015, yesterday.

He said the new SEC Act will have to be redrafted with certain amendments to adequately enhance the regulator’s power in curbing fraudulent acts.
However, he said at least 18 months will take for the new draft to become legislation.

Some of the investor protections contemplated by the draft will prevent serious market misconduct just being settled with a fine; disallow market offenders to serve on boards of the Public Limited Companies (PLCs) etc.
See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

  Comments - 0

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

 

Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment




Justice Delayed is Justice Denied!

Two years after the Easter Sunday carnage people are left with false hopes an

Cinematic links between director Lester and actor Gamini

Sinhala cinema’s pioneering director Lester James Peries is the Sri Lankan

Difficult to forgive Easter Sunday bombers: Brother of tourists killed in Sri Lanka

This year marks two years since the deadly Easter Sunday attacks in Sri Lanka

All about the new variants of Covid-19

With the Sri Lankan government successfully completing the first phase of the

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.