Business

SEC Chairman to meet stockbrokers

The Securities and Exchange Commission (SEC), the regulator of the Colombo Stock Exchange (CSE) has invited the CEOs of stockbroking firms for a meeting on Thursday (20).

Interestingly, the invitation email has been sent to the CEOs by the SEC External Relations team, when such invitations are usually sent by the SEC Director General (DG).

The meeting, scheduled to be held at the SEC auditorium, will be with SEC Chairman and the SEC Commission members. There is no indication that the DG would be a part of this meeting either.

Stock market analysts speculate that this sudden change may be a sign of the imminent removal of the current DG Vajira Wijegunawardane. The Sunday Morning Business reported on 26th January that Wijegunawardane is likely to be replaced with the current SEC Director – Litigation Chinthaka Mendis.

Wijegunawardane was appointed DG in April 2015 and was an investment analyst and fund manager for 10 years before joining the SEC.