Credit settlement period

Brokers said they were anticipating an announcement by the regulator further relaxing the margin trading credit settlement period when the market re-opens after being closed for religious holidays Tuesday and Wednesday.

http://www.lbo.lk/fullstory.php?nid=1019835869

Is it just a rumor?

As someone said in another thread, I sure hope the SEC compensates the poor blokes who sold at a loss or whose portfolios were force sold by brokers.

tubal wrote:As someone said in another thread, I sure hope the SEC compensates the poor blokes who sold at a loss or whose portfolios were force sold by brokers.

Ya..it's about time SEC sticks to it's decision whether it's right or wrong. At least they need to be consistent. It's bit of a Joke at the moment...

Is our regulators male or female or not either of those type? If these wimps are changing the rules all the time where are we heading?

this is the nature of Sri Lankan government policy makers. they change policies suddenly. good examples are car market tax policies and share market regulations .
Thats why many international investors are reluctant to invest in SL.

I've lost around 40% since last year, just because I followed a firm plan but your country's regulators couldn't stick to one thing for 6 months. SEC is there to serve the brokers and the insider trading high net worth fraudsters not the investors. They make their laws, they make the profit, they protect the fraudsters. Look what happened to the number one market manipulator in the recent times. Evidence was open in the public. But the SEC was protecting the manipulator so far as to issue a warning to the forum saying they shouldn't name and shame the fraudster.

A few weeks back, I was just going to open an L.C. when your country's law makers changed their extortion scheme overnight. Fortunately I didn't open it, otherwise I will have to either take more credit from somewhere or donate my car to customs so that they can auction it to their friends. Because that was all I can afford, not any more. Because I was a law abiding citizen, not an insider trader. Now I'm traveling in your country's public transportation where each bus is run by a mafia made out from individual businessman, each running it's own business to make as much money as possible in their race. And I didn't get my 3 rupees change yesterday probably because coins are sold for metal. I wonder where I can get coins. Even banks refuse to change.

This shows what happens to law abiding citizens. I don't know what sin I did to be born in this lawless cursed land. Your country need some humans, at least in control. Laws have gone to dogs where dogs are enforcing the laws.

They (SEC) are doing experiment with poor investor’s life. SEC should have to be comprised with well educated maturated professionals.

another insider leak i suppose . i'm waiting till the so called "official announcement "

mhh. may be this is the reason to sudden momentum in last trading hour!
ok, this is not the worlds end. wait and see what would happen on Thursday.

Security Leak Commission must had talks with the brokers and the market manipulators, the ones those regulators are serving. i won't be surprised if they change bank guarantee rules even. we should have mandatory announcements of the share purchases of the SLC officials and their families and they should be investigated for insider trading. i also have worked to these regulator's plans and have lost quite a lot when they changed them overnight. i hope the SLC will refund my losses. are we going for another change? the governemnt should transfer these SLC regulators to the Abans cleaning personnel. ah, no then we'll see garbage collection every 5 days, then 7 days, then 10 days, and then indefinitely. it seems brokers and manipulators were informed by the SLC for several weeks. somebody should punish these SLC regulators. final advice is don't play by the laws and regulations. if you want to succeed manipulate the market, do insider trading. that's the sri lanka security leaks commissions message to you.

duke wrote:Security Leak Commission must had talks with the brokers and the market manipulators, the ones those regulators are serving. i won't be surprised if they change bank guarantee rules even. we should have mandatory announcements of the share purchases of the SLC officials and their families and they should be investigated for insider trading. i also have worked to these regulator's plans and have lost quite a lot when they changed them overnight. i hope the SLC will refund my losses. are we going for another change? the governemnt should transfer these SLC regulators to the Abans cleaning personnel. ah, no then we'll see garbage collection every 5 days, then 7 days, then 10 days, and then indefinitely. it seems brokers and manipulators were informed by the SLC for several weeks. somebody should punish these SLC regulators. final advice is don't play by the laws and regulations. if you want to succeed manipulate the market, do insider trading. that's the sri lanka security leaks commissions message to you.

Right you are duke. This is just crazy, so many people (me included) increased their cash position because of possible credit clearing. Now this rumour. It could wel be that this rumour has a solid basis and the leak commision (that's a good one) will announce it thursday or friday. On the other hand it could also be a rumour put out to enable the big boys to exit their position and distribute their debts amongst the retailers.

In any case the SEC really ought to make an announcement on thursday either confirming or denying these rumours.

To me SEC is no more than a immature Child who does not know what the best option is. So they experiment to find out without foresight. Really SEC is there to protect the small timers specially right. Now we the small timers are the Guneia pigs who suffer due to their constant change of policy. First they take extreme decisions without much thinking saying it is to protect the investor and for the best. Then when it goes wrong ( after all the disaster) they change it again claiming it is for the best of market. By that time the retailer have got burnt badly and some lost their life saving. During force selling time big guys who are not really effected much get bargains at the small timer expense. Then they play with the market for artificial rallies and then dump. In the middle Retailer join the rally again thinking oh this running. Then comes force selling and the cycle continues.

Then SEC comes in and says in the best interest of investors( Which investors?) we change policy again. I ask you isn;t the damage done?

To start with this credit issue should have been done it steps . Not in big chunks like 50% and then 100% within a few months and then changing timelines to their fancy.

This is all what I am saying

1) If you implement a policy good or bad stick to it and finish it to the end . Making changes in the middle does more
harm than and good most times
2) If you are unsure of what you are doing don;t experiment on an extreme to start with. It is small timers you are playing with whom you are supposed to protect.

Atleast SEC , please learn from you mistakes.

My biggest lose was last year. I followed the Security Leak Commission rules and sold at a loss. And then suddenly they announced they're going to change the rules one evening. I shouldn't have made any losses but because of Indrani I lost almost half my hard earned money and I was investing in solid blue chip shares.

Anybody know Indrani's email address?

Ha ha don’t worry guys we are creating a miracle here don’t you know it...

This is what happens when top rankers are politically motivated. SEC desperately needs to have a
boss who has experience in capital market not in plantations.

SEC cannot justify if they extend the credit clearance deadline this time. There should be a limit to experiment in capital markets. How on earth this deadline could extend two times. This means even regulators have no idea about how much credit is there.

In another thread someone mentioned that Capital trust is having lot of credit and those are transferred to their margin providing company. Yes I personally know that CT does not bother to settle their credit during the given period and now they have transferred their credit. If other brokering firms have little or no credit to settle what is the purpose of extending the deadline?

wis wrote:My biggest lose was last year. I followed the Security Leak Commission rules and sold at a loss. And then suddenly they announced they're going to change the rules one evening. I shouldn't have made any losses but because of Indrani I lost almost half my hard earned money and I was investing in solid blue chip shares.

Anybody know Indrani's email address?

------------------------------------------------------------------
Mr. Malik Cader
Director General
Tel: 94-011-2345331
E-mail: malik@sec.gov.lk

SECURITIES AND
EXCHANGE COMMISSION
OF SRI LANKA
Level 28, East Tower
World Trade Center
Echelon Square
Colombo 1
Sri Lanka
-----------------------------------------
Mr. Dhammika Perera
Director
Investigations
Tel: 94-011-2345327
E-mail: dhammika@sec.gov.lk
------------------------------------------------
PROCEDURE FOR HANDLING COMPLAINTS

The SEC's objective as stated in its mission statement is to promote develop and maintain a securities market that is fair, efficient, orderly, and transparent. Underpinning these objectives is SEC's ultimate responsibility of protecting investors. The SEC welcomes complaints from investors pertaining to improper conduct of market participants and other irregularities, in order to ensure the protection of investors in the securities market.

SEC for the purposes of administration has identified and categorized the following issues that could arise in the securities market:


1 COMPLAINTS AGAINST STOCK BROKERS AND STOCK DEALERS

Most of the complaints made against stockbrokers are related to the quality of advice or the level of the services provided by them

2 COMPLAINTS AGAINST LISTED COMPANIES

Most of the complaints made against listed companies are related to issues regarding shares, dividends, bonus issues, rights issues and /or dissemination of financial information.

3 COMPLAINTS CONCERNING TRADING IN SECURITIES

Most common trading activity complaints are in relation to insider dealing, market manipulation and/or front running.

4 COMPLAINTS AGAINST REGISTERED MARKET INTERMEDIARIES AND MANAGERS OF UNIT TRUSTS

Most common complaints made against Market Intermediaries and managers of Unit Trusts are in relation to breach of agreements between client and the service provider.

5 COMPLAINTS AGAINST THE COLOMBO STOCK EXCHANGE

The Colombo Stock Exchange welcomes comments and complaints in their role as a market operator.

All complaints made to the SEC should be in writing. However, information provided orally will be permitted in exceptional circumstances as determined by the SEC.

extracted from http://www.sec.gov.lk/

duke wrote:Security Leak Commission must had talks with the brokers and the market manipulators, the ones those regulators are serving. i won't be surprised if they change bank guarantee rules even. we should have mandatory announcements of the share purchases of the SLC officials and their families and they should be investigated for insider trading. i also have worked to these regulator's plans and have lost quite a lot when they changed them overnight. i hope the SLC will refund my losses. are we going for another change? the governemnt should transfer these SLC regulators to the Abans cleaning personnel. ah, no then we'll see garbage collection every 5 days, then 7 days, then 10 days, and then indefinitely. it seems brokers and manipulators were informed by the SLC for several weeks. somebody should punish these SLC regulators. final advice is don't play by the laws and regulations. if you want to succeed manipulate the market, do insider trading. that's the sri lanka security leaks commissions message to you.

"security leaks commission"
what a name !
from now on i' ll use this name instead of the original !

xmart wrote:
Mr. Malik Cader
Director General
Tel: 94-011-2345331
E-mail: malik@sec.gov.lk

SECURITIES AND
EXCHANGE COMMISSION
OF SRI LANKA
Level 28, East Tower
World Trade Center
Echelon Square
Colombo 1
Sri Lanka
-----------------------------------------
Mr. Dhammika Perera
Director
Investigations
Tel: 94-011-2345327
E-mail: dhammika@sec.gov.lk
------------------------------------------------
PROCEDURE FOR HANDLING COMPLAINTS

Hikz...! xmart can you pls verify who is this Perera...specially I need to know it coz of the Post[Designation/duty ] bounded for the said Perera...lol

CSE Today wrote:

xmart wrote:
Mr. Malik Cader
Director General
Tel: 94-011-2345331
E-mail: malik@sec.gov.lk

SECURITIES AND
EXCHANGE COMMISSION
OF SRI LANKA
Level 28, East Tower
World Trade Center
Echelon Square
Colombo 1
Sri Lanka
-----------------------------------------
Mr. Dhammika Perera
Director
Investigations
Tel: 94-011-2345327
E-mail: dhammika@sec.gov.lk
------------------------------------------------
PROCEDURE FOR HANDLING COMPLAINTS

Hikz...! xmart can you pls verify who is this Perera...specially I need to know it coz of the Post[Designation/duty ] bounded for the said Perera...lol

I understand waht you are referring to. RCL DP and SEC DP two different..

http://forum.srilankaequity.com/t3803-rule-changed-again

Official announcement - http://www.cse.lk/cmt/upload_cse_announcements/4471305790255_.pdf

wis wrote:I've lost around 40% since last year, just because I followed a firm plan but your country's regulators couldn't stick to one thing for 6 months. SEC is there to serve the brokers and the insider trading high net worth fraudsters not the investors. They make their laws, they make the profit, they protect the fraudsters. Look what happened to the number one market manipulator in the recent times. Evidence was open in the public. But the SEC was protecting the manipulator so far as to issue a warning to the forum saying they shouldn't name and shame the fraudster.

A few weeks back, I was just going to open an L.C. when your country's law makers changed their extortion scheme overnight. Fortunately I didn't open it, otherwise I will have to either take more credit from somewhere or donate my car to customs so that they can auction it to their friends. Because that was all I can afford, not any more. Because I was a law abiding citizen, not an insider trader. Now I'm traveling in your country's public transportation where each bus is run by a mafia made out from individual businessman, each running it's own business to make as much money as possible in their race. And I didn't get my 3 rupees change yesterday probably because coins are sold for metal. I wonder where I can get coins. Even banks refuse to change.

This shows what happens to law abiding citizens. I don't know what sin I did to be born in this lawless cursed land. Your country need some humans, at least in control. Laws have gone to dogs where dogs are enforcing the laws.

My friend! Your e-mail is published in Sunday Times. We are proud of you my friend. Hats off to you.
http://www.sundaytimes.lk/110522/BusinessTimes/bt20.html