5 days Ago
The new Securities and Exchange Commission (SEC) Chairman Senior Prof. D.B.
P.H. Dissabandara is to foster market development balanced with strong regulatory oversight.
“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,” said the new Chairman. “As I embark on this journey with the SEC, my approach is grounded in fostering market development balanced with strong regulatory oversight.
Ensuring that Sri Lanka’s capital market operates in a secure, fair, and efficient manner is our foremost responsibility. However, we must also encourage innovation and growth, creating an environment that supports sustainable economic development,” Dissabandara emphasised. To achieve the SEC’s objectives as given in the SEC Act No.
19 of 2001, it is in the process of finalising a comprehensive set of plans with the Commission members and a dedicated SEC team: Short-term plan: Focused on addressing immediate market challenges to ensure seamless daily operations, maintain investor confidence, and reinforce market stability. Medium-term plan: Centred on key projects pivotal to transforming our capital market landscape, including: The new Chairman’s said long-term plan is with stakeholder collaboration. This forward-looking strategy, spanning the next two to three decades, aims to adapt Sri Lanka’s capital market to the evolving needs of future generations.
“At the SEC, we are unwavering in our commitment to uphold honesty, transparency, and the highest ethical standards. By fortifying our regulatory framework and embracing RegTech and other innovations, 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,” SEC Chief Dissabandara said in a special message to capital market stakeholders.
He also invited all stakeholders – investors, issuers, financial professionals, and the public – to join the SEC in the endeavours announced. “Together, we can build a vibrant and resilient capital market that embodies a shareholding democracy for Sri Lanka. Let us envision a future where our nation finances its growth through equity and innovation, ensuring enduring prosperity for Generation Alpha, Beta and beyond.
With your support and our shared vision, we can develop a thriving capital market that fuels economic growth, protects investors, and reduces dependency on debt,” SEC Chairman Dissabandara added..
