SEC announces Dinal’s suspension

Confirming the Daily FT’s exclusive report, the Securities and Exchange Commission (SEC) said yesterday it has issued a Directive dated 23 May 2012 to the Chairman and Board of Directors of Taprobane Securites (Pvt) Ltd. to suspend with immediate effect Dinal Wijemanne,

CEO/Managing Director of Taprobane Securites (Pvt) Ltd., from functioning in that capacity or in any other capacity for and on behalf of the above said company pending the conclusion of the investigations by the SEC.

SEC...

This decision was taken by the Commission at its 301st Meeting held on 22 May 2012 inter alia as a necessary interim measure conducive to the continuation of investigations launched by the SEC into the activities of the role played by the stockbroker Taprobane Securities (Pvt) Ltd. and its CEO/Managing Director Dinal Wijemanne in respect of the transaction of The Finance PLC shares by National Savings Bank (NSB) through the Stockbroker firm Taprobane Securities (Pvt) Ltd. on 27 April 2012.