SEC DG’s response to CSE for re-opening market operations

The Chief Executive Officer of CSE, Mr. Rajeeva Bandaranaike has made an inquiry regarding the re-opening of stock exchange for trading operations from the Securities and Exchange Commission of Sri Lanka (SEC). Accordingly ,The Securities and Exchange Commission of Sri Lanka has met yesterday (23)  in order to consider the request of  the CSE to re-open the market for trading  and their unanimous conclusion has been that if it is to properly consider the feasibility of re-opening the stock market for trading under the present circumstances, it is imperative to satisfy itself that the CSE is able to ensure that all operational requirements that are necessary for the stock market to function in a fair and orderly manner can be maintained. Director General, SEC Chinthaka Mendis addressing the Cheif executive officer of the CSE on the matter further stated that the CSE  has to carefully identify all operational requirements, including issues of settlement and spell out in detail the means by which the CSE intends to resolve them. SEC further stated that it is also important for the CSE to consider the interests of all stakeholders in this exercise and the importance of such decisions being made at a meeting of the Board of Directors of the CSE. The content of the letter is as follows:

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