The Bill to establish the Securities and Exchange Commission of Sri Lanka and to repeal the Securities and Exchange Commission of Sri Lanka Act, No. 36 of 1987, was presented to the Parliament on Wednesday (6).
The Bill was presented by Chief Government Whip Minister Gayantha Karunathilaka.
The Securities and Exchange Commission of Sri Lanka will regulate market institutions, public offers of securities, market intermediaries; to deal with market misconduct; and to meet the challenges encountered by securities markets in an effective and efficient manner.
The commission, which will be appointed by the subject minister, will include a majority of six members from the private sector.
The deputy secretary to the treasury, deputy governor of the Central Bank, a fellow member of the Institute of Chartered Accountants of Sri Lanka and the Registrar General of Companies will make up the remaining four members of the commission.
