Stock market regulator: Making it a ‘toothless tiger’ not a good sign

The peculiar Colombo Stock Market

The Colombo Stock Market is a peculiar place. It doesn’t create just plain news. It creates scary news.

First, it was agitations by a group of market participants, known as high net-worth investors, for the removal of the Chief Executive Officer of its watchdog, Securities and Exchange Commission or SEC, from his post. His crime: getting too tough on investors who have been alleged to have practised the crime of engaging in ‘market manipulation for personal gain’ and ‘insider trading’ at the cost of other market investors.