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It's easy to miss some important posts with the self appointed reporters flooding the site with all the business news articles in the news papers. So I'm extracting something here below.
I also like to highlight choosing the right thing and what the majority choose (or what we call democratic way) are TWO DIFFERENT things. Choosing what is right and choosing what is popular are two things. When you select the popular thing it could be give only a temporary solution but down the line it could worsen the situation. It's important as brokers or individuals to do the right thing.
http://www.sundaytimes.lk/111218/BusinessTimes/bt02.html
I also like to highlight choosing the right thing and what the majority choose (or what we call democratic way) are TWO DIFFERENT things. Choosing what is right and choosing what is popular are two things. When you select the popular thing it could be give only a temporary solution but down the line it could worsen the situation. It's important as brokers or individuals to do the right thing.
The source also noted that the two dissenting firms didn’t want to be a part of the ongoing controversies which some of the CSBA members have been accused of in the past such as powerful lobbying and pressurising the government to 'get what they want’. “They also didn’t want to be associated with the term ‘market manipulators’ and be in a body which represented people who resorted to such things,” the source added.
Both CT Smith and IIFL believe in conforming to the rules and regulations, while functioning within a level playing field, according to the source. Both these firms are also worried about the way the foreign investors view the Colombo share market and they say that changing the SEC Chairperson and kicking the SEC Director General upstairs – all within a space of less than a month - isn’t a good sign to the foreigners.
Some CSBA members aren't happy with the CT Smith and IIFL move to breakaway from them, saying that it's not the 'right' thing to do. "They are abandoning the camp and to agree with the majority is a democratic way of going about things," a CSBA member pointed out. But the source noted that it's also their right to leave an organisation if they want to.
http://www.sundaytimes.lk/111218/BusinessTimes/bt02.html
