Sri Lanka’s stock market regulator discusses future steps on development of the capital market
Chairman of Sri Lanka’s Securities and Exchange Commission of Sri Lanka (SEC), Viraj Dayaratne and the members of the Commission have reportedly commenced a series of meetings with capital market stakeholders.
The discussions will focus on the future steps on development of the capital market, a spokesman for the SEC has been quoted as telling the local media.
Accordingly, the first in the series was with Ray Abeywardena, Chairman, Rajeeva Bandaranaike Chief Executive Officer, Renuke Wijayawardhane, Chief Regulatory Officer and other senior managers of the Colombo Stock Exchange and next meeting is to be with the Chief Executive Officers of stockbroker firms on Tuesday (25).
The Commission was represented by the Chairman, Manil Jayesinghe, Naresh Abeysekera and Sunil Lankathilake.
The SEC spokesman has further noted that these meetings with various stakeholder groups are to be held in order to enable the SEC to discuss issues in general and obtain their views and proposals with regard to the prevalent regulatory framework and the development of the capital market of the country.
Local media reports stated that it is also envisaged that such meetings will help improve cooperation between the regulator and the stakeholders and provide them an opportunity to work together towards the common goal of capital market development.
Also, in the coming weeks meetings have been scheduled with other stakeholders such as listed companies, unit trust management companies, investment managers, margin providers and credit rating agencies.
Sri Lanka’s stock market regulators are on the constant look out for ways to develop and improve the country’s stock exchange. The Colombo Stock Exchange has recorded overall positive performances through the years recording several significant foreign funds entering the market. Given Sri Lanka’s constantly growing economic and business potential, foreign businesses/investors could explore investing in Sri Lanka’s stock market.
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