CSE, CDS revises applicable rules

• Move to ensure consistency with New SEC Act No. 19 of 2021

Pursuant to the enactment of the Securities and Exchange Commission (SEC) of Sri Lanka Act No. 19 of 2021 (New SEC Act), the Stockbroker rules of the Colombo Stock Exchange (CSE) and the Central Depository Systems (CDS) have been revised. 

“This is in order to ensure consistency with the said New SEC Act,” the CSE said in a statement. 

Following rules have been implemented with the approval of the SEC and are effective from 3 April 2023: 

• Trading Participant Rules (Replacing the previous Stockbroker Rules) 
• CDS – Central Depository Rules (Replacing the previous CDS Rules)
• CDS – Clearing House Rules
• Dispute Resolution Rules of the CSE Group

As required in terms of the New SEC Act, the Dispute Resolution Rules of the CSE Group will facilitate the fair and efficient resolution of disputes between the distinct stakeholder groups of the CSE and CDS. 

The CDS Rules have been suitably amended and restructured as “CDS – Central Depository Rules” and “CDS – Clearing House Rules” with a view to facilitate the requirements applicable to a Central Depository and Clearing House set out in the New SEC Act.

The new rule books have been published on the CSE and CDS websites and are now accessible via the following links www.cse.lk and www.cds.lk.