SEC DG responds to reopening the market operations

The Chief Executive Officer of CSE, Mr. Rajeeva Bandaranaike has inquired about resuming normal trading operations at the Colombo stock market from the Securities and Exchange Commission of Sri Lanka (SEC).

Accordingly, the SEC has met yesterday (23) in order to discuss this matter thoroughly and their unanimous conclusion has been that if it is to properly consider the feasibility of re-opening the stock market for trading under the present circumstances, it is imperative to satisfy itself that the CSE is able to ensure that all operational requirements that are necessary for the stock market to function in a fair and orderly manner can be maintained.

In a letter to the Colombo Stock Exchange, SEC’s Director General Chinthaka Mendis further stated that the CSE  has to carefully identify all operational requirements, including issues of settlement and spell out in detail the means by which the CSE intends to resolve them and  it is also important for the CSE to consider the interests of all stakeholders in this exercise and the importance of such decisions being made at a meeting of the Board of Directors of the CSE.

The letter as follows;