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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » SEC responds to recent media reports on investigations

SEC responds to recent media reports on investigations

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Malika1990

Malika1990
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Sri Lanka’s Securities and Exchange Commission says, despite certain media reports, there are no ongoing or pending investigations at present in respect of any of the companies mentioned by those reports.
“The SEC wishes to categorically mention that there are no ongoing or pending investigations at present in respect of any of the companies disclosed in the above mentioned articles” a statement from SEC added.
It also says that any investigation conducted by the SEC pertaining to trades executed by any investor in the secondary market should not be construed as an investigation again the establishment whose securities are involved in such investigation.
“This will result in creating an adverse impression and impact on such companies and their stakeholders” added the market watchdog.
SEC also says, that it is concerned about certain media reports which appeared recently giving an impression that a number of companies are under investigation by the SEC.
Former SEC Chairman Thilak Karunaratne who resigned recently, said that there are 17 ongoing probes being conducted by the SEC on market malpractices.
However, he did not reveal whether those are against companies or individuals.
http://www.news360.lk/markets/market-news-sri-lanka-05-09-2012-sec-responds-to-recent-media-reports-on-investigations-778453

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