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A top Finance Ministry official says the Director General of the Securities and Exchange Commission Malik Cader is likely to be moved out from his current position.
The official who did not want to be quoted as he is not authorized to speak on the matter said, “Cader will be given a new responsibility”.
However he said the decision is in the hands of the Cabinet of Ministers.
Market sources said the new responsibility for Cader would be positioning him to handle a new role in the proposed Capital Markets Division, which is expected to be established in the Finance Ministry.
However when News360.lk asked the Chairman of the Securities and Exchange Commission Mrs. Indrani deleted whether Cader will be moved out or not, she said the authorities have not informed her of any such move.
She said a Capital Market division is expected to come up in the Ministry of Finance.
This morning when News360.lk asked from Malik Cader whether he has been asked to leave or he is planning to resign from the position of “Director General” of the SEC, Cader said “I am on my way to work”.
However another senior SEC official said, “There is pressure from certain quarters on the SEC”.
In recent times the SEC have been taking various steps to stop manipulation taking place in the Colombo Stock Exchange.
The CSE in recent times experienced a continuous downward trend.
http://www.news360.lk/markets/stock-market/malik-cader-to-be-given-a-new-responsibility-official
The official who did not want to be quoted as he is not authorized to speak on the matter said, “Cader will be given a new responsibility”.
However he said the decision is in the hands of the Cabinet of Ministers.
Market sources said the new responsibility for Cader would be positioning him to handle a new role in the proposed Capital Markets Division, which is expected to be established in the Finance Ministry.
However when News360.lk asked the Chairman of the Securities and Exchange Commission Mrs. Indrani deleted whether Cader will be moved out or not, she said the authorities have not informed her of any such move.
She said a Capital Market division is expected to come up in the Ministry of Finance.
This morning when News360.lk asked from Malik Cader whether he has been asked to leave or he is planning to resign from the position of “Director General” of the SEC, Cader said “I am on my way to work”.
However another senior SEC official said, “There is pressure from certain quarters on the SEC”.
In recent times the SEC have been taking various steps to stop manipulation taking place in the Colombo Stock Exchange.
The CSE in recent times experienced a continuous downward trend.
http://www.news360.lk/markets/stock-market/malik-cader-to-be-given-a-new-responsibility-official
