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By: Prasanna C. Rodrigo
The newly appointed Chairman of Sri Lanka’s Securities and Exchange Commission Thilak Karunratne says he doesn’t believe in over regulation, as it is counter productive to the market.
Speaking to News360.lk he said, “I don’t believe in over regulation, as over regulation is counter productive”.
However, Karunaratne was of the view that the market needs some sort of supervision to ensure fair play for the benefit of all stakeholders.
When asked whether he intends to relax certain existing regulations which the Stock Brokering industry feels too tough, the new Chairperson said, “It is difficult to pass a comment on this as of now”.
“Credit may be necessary or may not be necessary”, added the SEC Chairman.
However, Karunaratne is also of the view that bringing in changes during the month of December will not have any impact on the market.
“December is a dull month, what ever we do the market will not go up, there is vacation mood and for investors the stock market is non priority”, he told News360.lk.
Karunaratne, a businessman and a veteran politician, told us, at present he is getting ready to come up with a solid plan to put the market on track, starting from next year.
“I am planning to put a well thought-out and effective plan to put the market on track starting from next year”, he revealed.
SEC Chairman is also highly keen on attracting foreign investments to the market and observes those investment can be pulled-in from countries like Malaysia, China, Japan and Singapore etc.
He also, disclosed that the next meeting of the SEC Commissioners will be held on the 21st of December to discuss some “important papers”.
The Chairman did not reveal what the important papers are.
http://www.news360.lk/featured/%E2%80%9Ci-don%E2%80%99t-believe-in-overregulation%E2%80%9D-%E2%80%93-new-chairman-of-the-sec
The newly appointed Chairman of Sri Lanka’s Securities and Exchange Commission Thilak Karunratne says he doesn’t believe in over regulation, as it is counter productive to the market.
Speaking to News360.lk he said, “I don’t believe in over regulation, as over regulation is counter productive”.
However, Karunaratne was of the view that the market needs some sort of supervision to ensure fair play for the benefit of all stakeholders.
When asked whether he intends to relax certain existing regulations which the Stock Brokering industry feels too tough, the new Chairperson said, “It is difficult to pass a comment on this as of now”.
“Credit may be necessary or may not be necessary”, added the SEC Chairman.
However, Karunaratne is also of the view that bringing in changes during the month of December will not have any impact on the market.
“December is a dull month, what ever we do the market will not go up, there is vacation mood and for investors the stock market is non priority”, he told News360.lk.
Karunaratne, a businessman and a veteran politician, told us, at present he is getting ready to come up with a solid plan to put the market on track, starting from next year.
“I am planning to put a well thought-out and effective plan to put the market on track starting from next year”, he revealed.
SEC Chairman is also highly keen on attracting foreign investments to the market and observes those investment can be pulled-in from countries like Malaysia, China, Japan and Singapore etc.
He also, disclosed that the next meeting of the SEC Commissioners will be held on the 21st of December to discuss some “important papers”.
The Chairman did not reveal what the important papers are.
http://www.news360.lk/featured/%E2%80%9Ci-don%E2%80%99t-believe-in-overregulation%E2%80%9D-%E2%80%93-new-chairman-of-the-sec
