SEC completes 24% of strategic roadmap in 14 months

The Securities and Exchange Commission (SEC) announced that it has successfully completed 24 percent of its strategic roadmap within the last 14 months, laying a strong foundation for a comprehensive market overhaul aimed at protecting investors and introducing new financial products.

Speaking to editors and business journalists at a year-end gathering held in Colombo this week, SEC Chairman Prof. Hareendra Dissabandara highlighted that the Commission has remained steadfast in its mandate to clear doubts and establish a robust framework. He noted that the regulator spent the last 14 months diligently working to “clean up” the market, achieving nearly a quarter of its targeted goals while prioritising the protection of thousands of innocent investors.

The Commission’s strategic roadmap, branded as the ‘12 Pillars’, outlines a series of critical structural reforms and product innovations. These key projects include the long-awaited demutualisation of the Colombo Stock Exchange (CSE), the full operationalisation of the Central Counterparty (CCP) system, and the establishment of a multi-asset class derivatives exchange. The agenda also emphasises expanding the corporate debt market, enhancing collective investment schemes, and creating a regulatory framework for digital assets to future-proof the local economy.

The Commission also stressed the importance of regulatory evolution, noting that necessary amendments to the SEC Act are being processed to support the introduction of new asset classes. The SEC acknowledged the endorsement and support received from international bodies such as the Asian Development Bank (ADB) and the World Bank for its strategic plan.  

Looking ahead to 2026, the SEC indicated that these initiatives will require significant resources and are designed to introduce new mechanisms to the Sri Lankan market, supported by a strong educational component to raise public awareness. 

The Chairman expressed confidence that the regulator is now the sole entity in the economy capable of effectively communicating these developments to the masses. (NF)