SEC justifies keeping stock market closed

Friday, 20 March 2020 00:00 - - {{hitsCtrl.values.hits}}

The Securities and Exchange Commission of Sri Lanka (SEC) yesterday had a meeting with the Board of Directors of the Colombo Stock Exchange (CSE) and the President of the Colombo Stock Brokers Association (CSBA) in order to obtain their views with regard to the functioning of the stock market in the light of the Government’s decision to declare public holidays in order to curb the spread of the COVID-19 pandemic.

After the meeting, it is the considered view of the SEC that under the prevailing conditions, the stock market will not be able to function in a fair, orderly and equitable manner.

As such, the SEC decided that the CSE may not be opened for trading during days that are declared by the Government as public holidays under the prevailing situation.