Sri Lanka’s securities regulator is in the spotlight for excessively compounding too many cases without allowing the judicial system to voice its opinion. Sri Lanka’s securities regulator is in the spotlight for excessively compounding too many cases without allowing the judicial system to voice its opinion. Compounding, is something like seeking a plea bargain, where an offending party can settle its case related the share trading activities, out of courts by paying a fine.
Few people take their case to courts, opting to pay a fine and save themselves the hassle and the embarrassment of going through Sri Lanka’s slow moving judicial system.
Those accused are not always wrong and prefer to pay a fine to save face.
Former securities regulator Aritta Wikramanayake says market players should re-look at how cases are compounded to ensure the Securities & Exchange Commission of Sri Lanka’s integrity is maintained.
Wikramanayake shares his thoughts in an interview with Mel Gunasekera of The Money Report (TMR) and says the whole process of compounding a case has been abused.
Excerpts of the interview:
TMR: Mr. Wikramanayaka why d