Category: Legal

Sept 28, 2011 (LBO) – Sri Lanka’s Securities and Exchange Commission said five employees of SMB Leasing, will be charged for insider dealing on the firm’s stock. The SEC said the employees had bought shares ahead of a rights and warrant issue by the company. Information on the rights issue had been made public on […]

JOINT BASE LEWIS-MCCHORD, September 23, 2011 (AFP) – A third member of an alleged rogue US army unit in Afghanistan pleaded guilty Thursday in a plea deal over shock killings of local civilians that embarrassed the US army. Private First Class Andrew Holmes was accused of being a member of a five-person “kill team” implicated […]

Sept 23, 2011 (LBO) – Sri Lanka’s parliament has passed changes to laws against money laundering and terrorist financing, broadening their scope and enabling police to freeze funds. The amendments make the island’s anti-money laundering and Countering Financing of Terrorism (AML/CFT) laws “fully compliant with the international standards,” a statement from the central bank’s financial […]

NEW YORK, September 21, 2011 (AFP) – Sentencing of Raj Rajaratnam, the hedge fund magnate convicted in the biggest Wall Street insider trading case in years, has been postponed until October. A court order Wednesday by New York federal Judge Richard Holwell moved sentencing day from September 27 to October 13. No reason was given. […]

Sept 19, 2011 (LBO) – A Sri Lankan student seeking to study in the United Kingdom was arrested for fraud because she submitted a false education certificate with her visa application, the British high commission said. “They have also have been banned from travelling to the UK for ten years.” “The UK Border Agency referred […]

Sep 14, 2011 (LBO) – Sri Lanka should increase fines for securities fraud because trading volumes and potential for profit is much higher than when the fines were originally set, a lawmaker has said. Harsha de Silva, a member of Sri Lanka’s opposition United National Party, said a 10 million rupee fine charged on Environmental […]

Sept 14, 2011 (LBO) – Sri Lanka’s Securities and Exchange Commission said it will take a stock advisor to court and had warned seven others including two investors over suspected price manipulation. An investment would be charged over s suspected trades in shares of MTD Walkers during January 2010 following decision taken on August 19. […]

UNITED NATIONS, September 13, 2011 (AFP) – UN leader Ban Ki-moon on Monday sent a report accusing Sri Lankan troops of killing tens of thousands of civilians to the UN Human Rights Council, bringing a potential international inquiry one step closer. Ban has said that he alone cannot order an inquiry into the killings during […]

September 13, 2011 (AFP) – A Sri Lankan minister led a protest march on Tuesday that forced organisers to abandon an annual Hindu sacrifice ritual in which hundreds of goats were due to slaughtered. Public Relations Minister Mervyn Silva, a member of the Buddhist majority, arrived at the Munneswaram Hindu temple, 80 kilometres (50 miles) […]

Sept 11, 2011 (LBO) – Sri Lanka has arrested a fishing vessel with 40 people suspected to be illegal migrants headed for Australia, an official said. Sri Lanka navy has stepped up naval patrols and strengthened its presence along the island’s coast to combat piracy and illegal immigration. “The boat was arrested off the island’s […]

Aug 31, 2011 (AFP) – Sri Lanka on Wednesday used draconian anti-terror laws to detain thousands of Tamil rebel suspects who would have had to be freed when a state of emergency ended after 28 years, an official said. Attorney General Mohan Peiris said President Mahinda Rajapakse invoked regulations under the Prevention of Terrorism Act […]

August 31, 2011 (AFP) – About 1,200 alleged Tamil Tiger rebels in Sri Lanka will be released, with the end of emergency rule imposed 28 years ago to deal with the separatist movement, state media said Wednesday. The Daily News quoted Justice Minister Rauf Hakeem as saying that the end of emergency rule, announced by […]