SEC introduces mechanism to report social media wrongdoings

Tuesday, 6 February 2024 00:50 - - {{hitsCtrl.values.hits}}

With the rapid evolution of communication channels and the increase of social media influence in the financial markets, the Securities and Exchange Commission of Sri Lanka (SEC) has recognised the need for proactive measures to identify and address potential social media wrongdoings that may impact investors and market stability.

Considering these developments, the SEC has taken a significant step towards enhancing investor protection and market integrity with the launch of a dedicated webpage to report suspected market related wrongdoing on social media.

This new online webpage, accessible through the SEC’s official website, offers a user-friendly, confidential, and streamlined process for submitting information related to potential market manipulation, fraudulent activities, and other securities-related misconduct.

By establishing this direct reporting channel, the SEC aims to strengthen collaboration with the public, including investors, market participants, and concerned citizens, to play an active role in maintaining the integrity of the securities market.

The SEC similarly encourages individuals to share information by post or send a fax.

For more information and to access the reporting portal, please visit: https://www.sec.gov.lk/report-suspected-market-related-wrongdoing-misconduct-on-social-media/.