Parliament puts off taking up new SEC bill

Friday, 6 August 2021 03:28 - - {{hitsCtrl.values.hits}}

The Parliament yesterday decided to defer taking up the new Securities and Exchange Commission (SEC) Bill till end August.

The Bill was to be taken up yesterday but due to concerns from both the ruling and Opposition benches a deferment was decided as the best course. Sources said that the Bill will be taken up perhaps in the third week of August with a full days debate.

The Daily FT yesterday exclusively reported (https://www.ft.lk/front-page/Uncertainty-over-new-SEC-Bill-slated-for-P-ment-today/44-721335) that the new SEC Bill slated to come up in Parliament has caused some uncertainty from both ruling and Opposition benches over its credibility and effectiveness.

Concerns inclued the criteria to select Chairman of the capital market’s regulatory body as well as enlarging scope to regulate unlisted securities among other issues.

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