Commenting on the resignation of SEC Chairman Thilak Karunarathne, UNP MP Dr. Harsha De Silva said the ‘regulator has been captured by the mafia.

Speaking to Daily Mirror online Dr. De Silva said he made this prediction about regulatory capture during the past week

‘”Earlier this week I said that the country will witness what is called the regulatory capture, and this is exactly what has happened. The regulator has been captured by the mafia” he said.

The economist turned politician said the resignation was an indication of the general breakdown of law and order.

“To avoid market failure the government appointed a regulator and when he is captured what you see is government failure. This is one example of the breakdown in law and order. Politicians protect criminals who commit crimes like murder and rape. This political patronage has extended to those who allegedly commit white collar crimes too and this is a good example of it,” he said. (Hafeel Farisz)