Rules revised to ensure consistency with new SEC Act

Pursuant to the enactment of Securities and Exchange Commission (SEC) of Sri Lanka Act No 19 of 2021 (new SEC Act), the stockbroker rules of the Colombo Stock Exchange (CSE) and Central Depository Systems (CDS) have been revised. 

This is in order to ensure consistency with the said new SEC Act.
Accordingly, the Trading Participant Rules will replace the stockbroker rules and the Central Depository Rules will be replaced with the previous CDS rules, with effect from April 3, 2023.

In addition, the CDS - Clearing House Rules and Dispute Resolution Rules of the CSE Group will also be implemented.

The CSE said the Dispute Resolution Rules of the CSE Group will facilitate the fair and efficient resolution of disputes between the distinct stakeholder groups of the CSE and CDS. 

“The CDS Rules have been suitably amended and restructured as ‘CDS - Central Depository Rules’ and ‘CDS - Clearing House Rules’, with a view to facilitate the requirements applicable to a Central Depository and Clearing House set out in the new SEC Act,” the CSE said.