SEC organises first CPD for 2024

The Securities and Exchange Commission of Sri Lanka (SEC) successfully conducted its first Continuous Professional Development (CPD) program for 2024, aimed at elevating the knowledge and skills of investment advisors in today’s dynamic market landscape of the capital market industry. 

The session was focused on the new products launched by the SEC and Colombo Stock Exchange (CSE) to enhance market liquidity, attract investors, and diversify their offerings to meet the evolving needs of the industry. The CPD and was held on 15 February 2024 at the Sri Lanka Foundation Institute, Colombo 07, and ended on a positive note with the participation of over 280 investment advisors. 

Eminent presenters from the CSE, including Chief Regulatory Officer Renuke Wijayawardhane, Senior Vice President Nilupa Perera, and Enterprise Risk Management and Post Trade Settlement Vice President Dulani Warnakulasooriya, shared their knowledge on the innovative initiatives shaping the capital market landscape. Attendees had the privilege of learning from these presenters, gaining deep insights into the intricacies of the newly introduced products.

The program covered critical aspects of Regulated Short Selling (RSS) and Stock Borrowing and Lending (SBL) which is a groundbreaking development in the Sri Lankan stock market aiming to promote market efficiency, liquidity, and investor confidence while fostering economic growth, aligning with international standards and practices. It also covered the regulatory framework of listed corporate bonds which included plain vanilla debentures, BASEL III debentures, perpetual bonds, sustainable bonds, infrastructure bonds and Shariah compliant debt securities.

The CPD program brought together key professionals from the capital market industry, providing them with a platform to delve into the latest developments and strategies in response to the challenges posed by today’s dynamic market environment.

As part of the ongoing commitment to uphold the highest standards in the industry, it is a stipulated requirement that holders of the Investment Advisor certification actively participate in CPD programs. Accordingly, it is mandatory for the investment advisors to sit for 2 CPDs and obtain 4 CPD credits to maintain and carry forward their license to the next financial year. Since the publication of this directive, the SEC has been organising 5 CPD sessions annually. Despite the challenges presented by the pandemic, the SEC has demonstrated remarkable resilience by seamlessly transitioning from in-person to online CPD programs. Even during these unprecedented times, investment advisors were able to fulfill their CPD obligations through virtual platforms, ensuring the uninterrupted maintenance of their licenses. In the beginning of 2024, a decision was taken after considering a few suggestions from the industry, to commence the in-person CPD programs once again for better interaction and networking. In light of that, the first in-person CPD was conducted after five years. 

The success of the CPD program reinforces SEC’s commitment to continuous education and professional development within the financial industry.