“Certain closed files” will be re-opened for investigations : SEC

“Certain closed files” will be re-opened for investigations : SEC

Written by Bella Dalima

26 Mar, 2015 | 5:42 pm

The Sri Lanka Securities and Exchange Commission said that the alleged transactions that occurred in the Colombo share market recently will be subjected to investigation once again.

Chairman of the SEC, Thilak Karunarathna said that certain closed files will be re-opened for investigations.

He stated that these steps will ensure the proper stock exchange regulates.

Speaking on the progress of the ongoing investigations, Thilak Karunarathna said that the Colombo Land Development Company, Reef Comb Company, Environment Resources Investment company were spoken about in parliament.

He added that SEC has investigated these three companies and imposed certain financial fines on these companies as well.

Meanwhile, the chairman reiterated the requirement of a legal amendment to regulate the share market.

He reiterated that they are working towards amending the act that controls the exchange commission and to make it to one that regulates the commission better.

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