SEC hosts APEC FRTI Regional Seminar on Enforcement: Assessing, Planning and Interviewing

Tuesday, 25 March 2014 00:00 - - {{hitsCtrl.values.hits}}

For the 4th consecutive year the Securities and Exchange Commission of Sri Lanka (SEC) hosted the Asia Pacific Economic Cooperation (APEC) Financial Regulators Training Initiative (FRTI) regional seminar. The previous seminars were on risk management, supervision of derivatives markets and supervision and surveillance of market intermediaries.

This year the seminar was on “Enforcement: Assessing, Planning and Interviewing” from 17 to 21 March 2014 at the Cinnamon Grand, Colombo. The seminar was designed for regulators with 4-5 years of regulatory experience to learn about the latest trends in policies, procedures and practices for the assessment of allegations, the investigation strategy, scoping, planning and methodology and the interview models for interviewing witnesses. The opening remarks on 17 March 2014 were delivered by SEC Chairman Dr. Nalaka Godahewa and Sue Jeffery, Assistant to the Secretariat ADB – APEC, FRTI also addressed the forum. The Asia Pacific Economic Cooperation (APEC) Finance Ministers endorsed the establishment of the Financial Regulators Training Initiative (FRTI) to enhance training efforts for financial regulators at national and regional levels. The APEC FRTI provides a sustainable, efficient, cost-effective training structure for junior and mid-level staff of financial supervisory and regulatory agencies and stock and derivative exchanges.

The agenda for the seminar covered a wide range of topics i.e. preparing investigation plans, conducting interviews of witnesses and suspects using the PEACE interview model (Planning & Preparation, Engage and Explain, Account, Closure, Evaluation), market manipulation, investigation planning etc. Participants from local regulatory organisations such as the Colombo Stock Exchange, Ministry of Finance and Planning, Insurance Board of Sri Lanka and the Securities and Exchange Commission of Sri Lanka as well as regional participants from Malaysia, Nepal, Nigeria, Philippines, Taipei, Thailand, People’s Republic of China, Cambodia, India and Brunei attended the seminar. The resource personnel comprised of David Watson, Senior Manager, Market Integrity Enforcement, Australian Securities and Investments Commission, Stephen Glynn, Senior Director and Head of the Enforcement Division, Dubai Financial Services Authority, Carlos Costa-Rodrigues, Senior Counsel, Office of International Affairs, US Securities and Exchange Commission. At the conclusion of the seminar closing remarks were delivered by Dhammika Perera, Officer-in-Charge/Deputy Director General SEC, whilst Ahsan Tayyab, Officer in charge, Sri Lanka Resident Mission of the Asian Development Bank addressed the gathering.