Can SEC chairman downgrade DR.Nalaka GOdahewa?

Teller · 1 Can SEC chairman downgrade DR.Nalaka GOdahewa? Sat Feb 28, 2015 4:11 am

Teller

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I (teller) dont agree with mr.thilak karunarathas. Please read his traditional speech.
""""""""Sri Lanka’s Securities and Exchange Commission (SEC) should not be involved in marketing and promotions, SEC Chairman Thilak Karunaratne said on Thursday.

Speaking at the traditional ‘bell ceremony’ opening trading for the morning at the Colombo Stock Exchange, he said, “The regulator should distance itself from promotions.”

He was alluding to the fact that the previous team led by SEC Chief Nalaka Godahewa had been organizing promotion campaigns in overseas capitals.

Mr. Karunaratne was making his first public comments since taking over the SEC chair, about few weeks back, for the second time in three years. He served an earlier stint as SEC chief was forced to resign under pressure from mafia-type investors who dominated the market.

Adding that “all investors should be given a fair deal”, Mr. Karunaratne noted that more amendments to the SEC will be presented giving it more teeth.

“We have to correct shortcomings not only in the act of all areas of the capital market,” he noted. –"""""""""" www.sundaytimes.lk

D.G.Dayaratne · 2 Re: Can SEC chairman downgrade DR.Nalaka GOdahewa? Sat Feb 28, 2015 10:42 am

D.G.Dayaratne

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I agree with thilak K

Promotion has to be done by Stock Brokers

SEC promotion waste of money and it i was famous gambler's Technique

Foreigners will come if the economy is managed properly

Main role of CSE is to create level playing field in the stock market

Market forces will do the needful

Last govt under the advice of famous gambler ( Non Economist) interfered unnecessary areas like stock market But not interfered necessary areas like agricultural marketing

fireshelter · 3 Re: Can SEC chairman downgrade DR.Nalaka GOdahewa? Sat Feb 28, 2015 9:30 pm

fireshelter

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Without Marketing What we can get Mr.Thilak Don't Know is that very old guy don't know even to handle cse But remember Mr. Nalaka Bring market to good level we vote for MS Because at that time country situation
Not do Political appointment Who can't do any thing will do medial brief only

D.G.Dayaratne · 4 Re: Can SEC chairman downgrade DR.Nalaka GOdahewa? Sat Feb 28, 2015 11:03 pm

D.G.Dayaratne

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Marketing has to done through Brokers that is their main role.

CSE marketing means waste of public funds

Short time foreign inverters always try get profit and go. I do no see any difference between this type of investors and casino players

Foreigners should come and make direct investment

Last edited by D.G.Dayaratne on Sat Feb 28, 2015 11:15 pm; edited 2 times in total (Reason for editing : corection)

hettihewa · 5 Re: Can SEC chairman downgrade DR.Nalaka GOdahewa? Sat Feb 28, 2015 11:33 pm

hettihewa

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it is sad how people like our friend Mr Dayaratne lives in a theoretical world. When did stock brokers do national marketing ? National level promotions must be done by national institutes. Thats why tourist board do tourism promotions. BOI do investment promotions. EDB do trade promotions. Capital market does not have a national body for that purpose and when Nalaka became SEC chairman stock exchange was managed by sureka sellahewa who never believed in promotions. market was down at 4300. So Godahewa took the initiative and promoted the market. He was doing damage control. But in 2014 when mkt bounced back most of SEC work sifted to regulations. So Godahewa was a practical person who knew what need to be done at the right time. He always said there there must be a market to regulate. Please understand that without making unfair statements. Tilak achieved nothing for capital market in his tenure. During 2012-2014 Godahewa brought far more regulations that Tilak or Ingrain ever did, But he never made a nice about it. None of those regulations back fired because they were all well thought through and discussed with industry before implementation. (The few things Tilak and Ingrain did they always messed up ). There was a very good balance between both regulations and promotions during Godahewas time. Have you ever seen a single speech of Dr Godahewa criticising Tilak or Indrani. He didn't. Thats because he knew his ability and didn't need to score brownie points talking about others. But incompetent karunaratne doesn't know what to do. He came hoping he can restart investigations. But found there is nothing left to be done. Godahewa didn't talk about investigations and messed up market. But what Tilak found after returning to SEC was that Godahewa had completed all work properly.