SEC to conduct ‘Dialogue with Public Listed Companies’

Thursday, 18 April 2019 00:00 - - {{hitsCtrl.values.hits}}

The Securities and Exchange Commission of Sri Lanka (SEC) will launch the first in a ‘Chairman’s Forum’ series, on 25 April. The Colombo Stock Exchange (CSE) has been invited to be present.

“In order to provide each stakeholder group with adequate opportunity to engage the capital market regulator, we intend to have dates dedicated to each stakeholder group,” remarked SEC Chairman Ranel Wijesinha.

Towards that end, the first in the series entitled ‘Dialogue with Public Listed Companies (PLCs)’ is scheduled to be held on 25 April from 4.30 p.m. to 7 p.m. at the Grand Ballroom, Hilton, Colombo.

The invitation sent out on 2 April to chairpersons of PLCs also states that PLCs can in addition nominate the Chief Executive Officer (CEO), the Chairperson of the Audit Committee/Chairperson of the Risk Management and Mitigation committee (in the case of banks the Integrated Risk Management Committee) and the Company/Board Secretary.

PLCs have been encouraged to present any issues, thoughts, ideas or recommendations with regard to regulatory matters as well as capital market development matters, with specific reference, inter alia to the following.

Corporate Governance Framework – CEO and Chairman Duality
Continuous Listing Requirement Rules – Minimum Public Holding
Board Room Governance matters with specific reference to role of the Chairman Audit Committee, Chairman Risk Committee (in particular in the case of banks), role of the Company Secretary, role of the Chief Legal Officer as contributors to regulation and compliance
The role of Auditors and other service providers and its impact on regulation and compliance
Communications with the SEC as well as the CSE
Invest Sri Lanka Fora (on lines similar to what was conducted in London and Edinburgh in 2018 to promote Sri Lanka as an off shore destination)
Initiatives towards women participation on Boards