The Securities and Exchange Commission of Sri Lanka (SEC) will join 170 other international securities commission to combat cross border securities fraud.
An announcement on Tuesday said that the SEC had been accepted as a signatory to the International Organisation of Securities Commissions (IOSCO) Multilateral Memorandum of Understanding concerning consultation, cooperation and exchange of information. rn
rnAs party to the treaty, the commission will work to promote the integrity of securities markets by applying standards and effective enforcement against offences across international borders. rn
rnThe commissions will also share information on a mutual beneficial agreement as required to facilitate the regulation process.rn
rnThe treaty is expected to help the membership improve regulation in and the market for securities trading. rn
rnSEC Director General, Palitha Silva Gunawardene said that The MOU would reinforce confidence in Sri Lankas ability to be a market that it transparent and wi