Monday, December 17, 2012

SEC to continue measures to maintain fair, efficient market

"The main objective of the Securities and Exchange Commission of Sri Lanka (SEC) is the creation and maintenance of a market in which securities can be issued and traded in an orderly and fair manner. To ensure the creation and maintenance of a fair, efficient and orderly market the SEC undertakes continuance surveillance of market transactions , conducts investigations into any suspicious transactions and institutes enforcement action against offenders who have not complied with the SEC Act. The SEC will continue to implement these measures under the newly appointed Chairman and he has not been pressurized in any way by investors or any other stakeholders of the Capital Market in this regard.

"We wish to also state that any domestic and foreign individuals, companies or funds can invest in the stock market by opening an account in the Central Depository System (CDS) in line with CDS rules and regulations. It is applicable to both government and private sector investors. The investment decision is made by the respective individuals, companies or funds and the SEC does not get involved in their decision making process. The SEC can take action in instances where the SEC Act has been violated".

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