Category: Other

Sept 06, 2012 (LBO) – Sri Lanka’s Securities and Exchange Commission said there were no investigations into companies themselves that were named in recent media reports as being probed by the regulator in relation pump and dump frauds. “The SEC wishes to categorically mention that there are no ongoing or pending investigations at present in […]

Aug 30, 2012 (LBO) – Several new appointments announced to the Securities and Exchange Commission of Sri Lanka had connections to firms which were reportedly being probed, and fresh choices with professionals with a clean record should be made, a legislator has said. Former regulator Tilak Karunaratne has said that 17 probes were reaching their […]

Aug 28, 2012 (LBO) – Nalaka Godahewa, former chairman of Sri Lanka’s tourism development agency has been appointed as the chairman of the Securities and Exchange Commission, a state official said. The SEC chairman before Karunarantne, Indrani Sugathadasa, a retired senior public servant also resigned saying she was upholding her principles. Sri Lanka has had […]

COLOMBO, Aug 26, 2012 (AFP) – Sri Lanka’s stock market, once a darling of investors, has seen its value plummet 26 percent in the past year and now faces a crisis of confidence after its regulator quit in a storm of controversy. The tiny bourse became the world’s top gainer soon after the country ended […]

Aug 24, 2012 (LBO) – Sri Lanka will tighten its anti-money laundering and terrorist financing laws to comply with international requirements, minister Keheliya Rambukwella said. Rambukwella said cabinet of minister had given the nod to draft necessary changes to an existing Convention on Suppression of Terrorist Financing Act No 25 of 2005 to comply with […]

Aug 20, 2012 (LBO) – Sri Lanka Securities Exchange Commission chief Tilak Karunarane has resigned as 17 probes were drawing to a close, a few months after his predecessor also stepped down, a media report said. In a wide ranging interview published in Sri Lanka’s The Nation newspaper, Karunaratne was quoted as saying that he […]

Aug 15, 2012 (LBO) – The head of Sri Lanka’s Securities and Exchange Commission is expected to quit this week amid pressure from investors who were being probed for malpractices, a media report said. “I’ll be doing it (quitting) within the course of this week definitely. Definitely before Friday,” SEC chairman Tilak Karunaratne was quoted […]

Aug 11, 2012 (LBO) – Sri Lanka has begun archiving legal documents of its international commitments, the island’s foreign office said. Minister of External Affairs, G. L. Peiris has made a token handover of 171 legal documents kept by the ministry’s legal office, the satatement further said. The ministry said originals of all bilateral and […]