Oct 25, 2017 (LBO) – Sri Lanka’s cabinet of Ministers has given their nod to publish in the gazette and present in parliament for approval the new Securities Exchange Act of 2017, a statement said.
The new act will replace the Securities and Exchange Commission Act No. 36 of 1987 and is said to strengthen the independence of the commission with the implementation of a stringent governance structure.
The presented concept paper has been amended with the laws, experiences of Malaysia, Singapore, and Hong Kong.
The proposal was made by Prime Minister Ranil Wickremesinghe, as the minister of National policies and Economic Affairs.