By Ravi Ladduwahetty
Ceylon Finance Today: The Colombo Stock Market will continue to be bullish as before, through there were a few setbacks during the time of the Interim Budget which was passed in Parliament on Friday, Chairman of the Securities and Exchange Commission Tilak Karunaratne said.
There were some turbulent times during the Interim Budget and the market is now returning to being bullish he told Ceylon FT.
The market does not need any intervention or probing at this stage as everything was going on smoothly, he said, adding that all transactions were being carefully monitored.
He also said that the SEC was not so concerned about market performance, but on the regulatory aspects.
Meanwhile, the Securities and Exchange Commission was in the process of appointing a ten member Board of Directors. Four of them, according to the SEC Act, had to include a Deputy Governor of the Central Bank of Sri Lanka, a Deputy Secretary to the. would be from the legal fraternity and some members of the business community, but all ten members of the SEC Board would have to be appointed by Prime MInister Ranil Wickremesinghe as Minister of Policy Planning and Economic Development (The SEC now comes under the PM).
The SEC Chief also said the Board members have already been appointed, but the names have not submitted to him yet. It is also learnt that a full time Director General, would be appointed after interviews, but that process would also have to be completed when all the members of the SEC Board of Directors are appointed.
www.ceylontoday.lk
Ceylon Finance Today: The Colombo Stock Market will continue to be bullish as before, through there were a few setbacks during the time of the Interim Budget which was passed in Parliament on Friday, Chairman of the Securities and Exchange Commission Tilak Karunaratne said.
There were some turbulent times during the Interim Budget and the market is now returning to being bullish he told Ceylon FT.
The market does not need any intervention or probing at this stage as everything was going on smoothly, he said, adding that all transactions were being carefully monitored.
He also said that the SEC was not so concerned about market performance, but on the regulatory aspects.
Meanwhile, the Securities and Exchange Commission was in the process of appointing a ten member Board of Directors. Four of them, according to the SEC Act, had to include a Deputy Governor of the Central Bank of Sri Lanka, a Deputy Secretary to the. would be from the legal fraternity and some members of the business community, but all ten members of the SEC Board would have to be appointed by Prime MInister Ranil Wickremesinghe as Minister of Policy Planning and Economic Development (The SEC now comes under the PM).
The SEC Chief also said the Board members have already been appointed, but the names have not submitted to him yet. It is also learnt that a full time Director General, would be appointed after interviews, but that process would also have to be completed when all the members of the SEC Board of Directors are appointed.
www.ceylontoday.lk
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