SEC to take measures to support Colombo bourse

The Securities and Exchange Commission of Sri Lanka (SEC) convened a special meeting yesterday to assess the current situation in the stock market and determine what regulatory relief and assistance needed to manage the impact arising from the global stock market downturn, due to the COVID-19 outbreak. 

SEC Chairman Viraj Dayaratne, PC, Director General Chinthaka Mendis along with Commissioners Manil Jayesinghe, H.A. Karunaratne, Priyantha Ratnayake, Naresh Abeysekera and Colombo Stock Exchange CEO Rajeeva Bandaranaike participated in the meeting.

After the said meeting, the Chairman, Director General and other senior SEC officials held discussions with the CEOs of stockbroker firms to obtain their views with regard to the present situation in the stock market and requested them to forward their suggestions to the SEC promptly. 

The CEOs of stockbroker firms were optimistic that the Colombo stock market will bounce back strongly since the downturn was due to a global phenomenon. They also expressed the view that there is scope for investors in the Sri Lankan market due to the attractive valuations the market offers.