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SEC should monitor Share transactions of the Partners/Directors of Company Secretarial Firms

2 posters

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MarketSIRA


Senior Equity Analytic
Senior Equity Analytic

I think it is important for SEC to check the share transaction of the Company Secretarial firms and their directors/partners. Recently we have noticed that some directors of secretarial firms engaged in share transactions based on inside information obtained by them as company secretaries of listed companies. This was witnessed in relation to some share transaction carried out by Ms Priyanthi Pieris director of PW Corporate Secretaries (pvt) Ltd one of the leading secretarial firms.

"It does not matter whether they are the Chief Justices Husband or Former Attorney General Wife!! Insider trading rules should apply to all of them"

If you noticed most of these Secretarial firm posses price sensitive information relating to listed companies and directors/partners act to engaged in share transaction based on these information can be easily categories as Insiders.

SEC should immediately look into these matters and bring in necessary regulations to protect the minority investors.

K.Haputantri

K.Haputantri
Co-Admin

MarketSIRA wrote:I think it is important for SEC to check the share transaction of the Company Secretarial firms and their directors/partners. Recently we have noticed that some directors of secretarial firms engaged in share transactions based on inside information obtained by them as company secretaries of listed companies. This was witnessed in relation to some share transaction carried out by Ms Priyanthi Pieris director of PW Corporate Secretaries (pvt) Ltd one of the leading secretarial firms.

"It does not matter whether they are the Chief Justices Husband or Former Attorney General Wife!! Insider trading rules should apply to all of them"

If you noticed most of these Secretarial firm posses price sensitive information relating to listed companies and directors/partners act to engaged in share transaction based on these information can be easily categories as Insiders.

SEC should immediately look into these matters and bring in necessary regulations to protect the minority investors.

Yes SEC should take serious note of such transactions. Recent rule of six month ban on selling shares acquired by company directors/brokers/spouses should apply to secretarial firm employes/spouses as well.

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