SEC to ensure capital market operates in secure, fair and efficient manner

One of his priorities would be ensuring that Sri Lanka’s capital market operates in a secure, fair, and efficient manner Chairman of the Securities and Exchange Commission of Sri Lanka (SEC) Senior Professor Hareendra Dissabandara said.

“However, we must also encourage innovation and growth, creating an environment that supports sustainable economic development. The potential of our capital market to contribute significantly to Sri Lanka’s economic development remains at the forefront of my agenda. With both challenges and opportunities ahead, my primary goal is to build a well-regulated, transparent,and dynamic capital market that serves as a reliable foundation for investors and issuers alike.”

“As I embark on this journey with the SEC, my approach is grounded in fostering market development balanced with strong regulatory oversight. He also disclosed that they are in the process of finalising a comprehensive set of plans with the commission members and dedicated SEC team.

“Our short term plan is focused on addressing immediate market challenges to ensure seamless daily operations, maintain investor confidence, and reinforce market stability.”

The medium-term plan is centred on key projects pivotal to transforming our capital market landscape.

These  include, transforming the CSE through  demutualization,  expanding Corporate Debt Market for broader investment  opportunities, innovation in product development to diversify market offerings, fostering growth within the Collective Investment Scheme Industry,  strengthening participants with enhanced education, awareness and training initiatives,  encouraging new public and private listings to broaden market,  Participation,  attracting local and international funds to boost capital flow, implementing a Central Counterparty (CCP) Mechanism at the CSE for market efficiency, establishing a Multi-Asset Class Derivatives Exchange to enhance trading options,  enhancing the regulatory framework to support a resilient market,  promoting digital transformation to modernise market infrastructure and developing robust market risk management practices for stability.

He said that their long term plan evolves to address needs of future generations and formulate forward-looking strategy for the next two to three decades. At the SEC, we are unwavering in our commitment to uphold honesty, transparency, and the highest ethical standards.

“We strive to foster a market that not only operates with efficiency but also safeguards investor interests across all levels. Our guiding principle is to position Sri Lanka as a respected participant in the international financial landscape.”

Source: Daily News