SEC leads capital market revival to further boost economy

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SEC Chairman Senior Prof. D.B.P.H. Dissabandara

SEC Chairman Senior Prof. D.B.P.H. Dissabandara calls for efforts aimed at enhancing market integrity and investor confidence at Capital Market Investor Forum
Says SEC Act in 2021 has proved effective in ensuring efficient and transparent operations
Stresses technology as tool for market oversight and surveillance
Labels sustainable investment as key driver of economic development
Proposes multi-asset class derivatives to expand market participation and risk management

By Janani Kandaramage

Securities and Exchange Commission (SEC) Chairman Senior Prof. D.B.P.H. Dissabandara recently announced its efforts to modernise the financial landscape and strengthen regulatory frameworks, fostering a thriving economic environment conducive to investment.

Addressing the Invest Sri Lanka Forum held in Colombo, the SEC Chairman outlined its vision for the country’s capital markets, stressing the need for bolstering market integrity and investor confidence, adding that, “We are not just regulators; we are enablers of growth.”

Speaking about strengthening governance, he assured that the SEC has reinforced its strategic framework to uphold the market integrity of Sri Lankan capital markets.

“The enactment of the new SEC Act in 2021 empowers us to combat market misconduct more effectively, enhance corporate governance, and protect investor rights,” he said.

The SEC Act aims to regulate the country’s securities market-ensuring fair, transparent, and efficient operations.

He added: ”Instead of viewing past challenges as crises, we have embraced them as learning opportunities, continuously evolving our capabilities to ensure financial stability under the SEC Act.”

The SEC Chairman also discussed the need to leverage technology for market oversight, remarking on the implementation of the SEC’s cloud-based SoapTech system—an innovative platform integrating data analytics, artificial intelligence, and automation to enhance market supervision.

In addition, he described the adoption of state-of-the-art market surveillance systems from NASDAQ, further strengthening market scrutiny to prevent misconduct.

Beyond regulation, he also expressed the SEC’s commitment to capital market development by introducing innovative products and platforms such as infrastructure bonds, green bonds and other sustainable bonds. “Our goal is to deepen the market and provide a range of investment opportunities for a broad range of investors with varying risk appetites and investment horizons,” he urged.

He also called for proposals to establish a multi-asset class derivatives exchange and greater stakeholder engagement in the financial landscape. The multi-asset initiative aims to offer a comprehensive platform covering diverse asset classes-including commodities to broaden market participation and enhance risk management for investors, while ethical governance must be ensured to attract investors.

”As Sri Lanka navigates its economic resurgence, the SEC remains steadfast in driving capital formation—an essential driver of sustainable economic growth. Our roadmap includes short-term, medium-term, and long-term strategies aligned with the Government’s mission to build a self-sustaining economy driven by equity and innovation.”

Pic by Upul Abayasekara

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