SEC and CSE meet stockbrokers to iron out misconceptions

• Regulator assures no extra pressure to curtail credit, but info sought weekly now given new dynamism in market

The Securities and Exchange Commission of Sri Lanka (SEC) together with the Colombo Stock Exchange (CSE) yesterday met the CEO’s of stockbroker firms for a discussion on the current status of the stock market. 

In a statement, the SEC said candid views were expressed between the parties and that the stockbrokers expressed their views with regard to the information that has been called for by the circular issued by the CSE. 

The stockbrokers expressed the view that there had been some misconception that this information was to be gathered in order to curtail the credit that has been extended by the stockbroker firms. 

SEC Chairman Viraj Dayaratne PC explained that such information had in any case been collected on a fortnightly and monthly basis and, considering the dynamic nature of the market, such information was sometimes required to be submitted on a weekly basis, and that it was in no way meant to curtail credit granted by the stockbrokers.