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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » SEC commissioner resigns as its chief stock market regulator prepares to step down

SEC commissioner resigns as its chief stock market regulator prepares to step down

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Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics

Sanjay Kulatunga, one of the commissioners at Sri Lanka’s crisis-hit Securities and Exchange Commission (SEC) resigned on Friday just as the SEC Chief Thilak Karunaratne prepared to step down after a losing battle against alleged market manipulators and political pressure.

This came as the of the 75-strong staff at the SEC wrote to President Mahinda Rajapaksa urging him not to accept Mr Karunaratne’s impending resignation letter which is to be sent this morning. TimesOnline reliably understands that Mr Kulatunga, a director at Amba Research sent in his resignation letter this morning. He was not immediately available for comment.

There has been a chorus of protests and concern including from the Ceylon Chamber of Commerce over the developments at the SEC and Mr Karunaratne’s decision to step down in the wake of rising investor and political pressure, after getting tough against alleged manipulators and insider traders. The other SEC commissioners, all working in an honorary capacity, are D.K. Hettiarachchi, Lolitha Abeysinghe, M.Z.H. Hashim, B.D.W.A. Silva, Sujeewa Rajapaksha, Dr. Prathiba Mahanamahewa and Sajith R. Attygalle.
http://sundaytimes.lk/index.php?option=com_content&view=article&id=23123:sec-commissioner-resigns-as-its-chief-stock-market-regulator-prepares-to-step-down&catid=1:latest-news&Itemid=547

traderathome

traderathome
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

will there be a sankranthi samaya .................at SEC

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