SEC and CFA Society Sri Lanka continue to advance capital market governance standards

The Securities and Exchange Commission (SEC) Chairman Viraj Dayarane says the CFA Capital Market Awards is of immense service to the capital market .

“Whether it is with the work done by the stockbrokers, listed companies or the unit trust industry, collectively, there are steps that have to be taken in order to improve the standards in each of those disciplines. And competition will ensure that standards are improved.”

“There is an emphasis now on better corporate governance amongst listed companies. Moreover, creating financial literacy is a vital need as far as Sri Lanka is concerned, so that’s an area that requires more attention. I’m happy to note that CFA has shown interest in taking steps to improve financial literacy,” Dayaratne said.

When it comes to the current investment research standards, Dayaratne maintains that while engaging in research is important, it is equally important that such research material is made available. Moreover, high-quality investment research would provide the investing public with the much-needed confidence as well as a sense ofsecurity, as far as their investments are concerned.

Looking ahead, the SEC Chairman opines that the CFA Society can take further steps - on its own or together with other stakeholders - to increase financial literacy, create more awareness amongst the investing public and improve the standards of the industry.

“CFA is a highly regarded qualification and we’re happy to see the numbers increasing in those who qualify. Greater emphasis is required on the importance of the qualification, and how those with it can contribute to the capital market and financial markets as a whole,” he added.

The CFA Society Sri Lanka is to hold the annual CFA Capital Market Awards June this year.