Dec 01, 2011 (LBO) – Sri Lanka’s Securities and Exchange Commission chief Indrani Sugathadasa has resigned, within weeks of the watchdog’s director general being removed by the cabinet of ministers. Sugathadasa is a retired public official who has been in many senior positions in government service. Sugathadasa said she had tendered her resignation “having considered the unfolding circumstances and upholding my principles.”

Sugathadasa and former director general Malik Cader started a crackdown on widespread microcap fraud and insider dealing and came under pressure from powerful investors.

Cader was kicked upstairs to a position in the finance ministry and the post has now been re-advertised.