Top seminar on new SEC Act on 22 October

Monday, 27 September 2021 00:00 - - {{hitsCtrl.values.hits}}

A seminar on the ‘New SEC Act and its Implications for Listed Companies, Market Participants’ organised by Corporate Management Consultants in partnership with the Daily FT, will be held on 22 October, from 2 p.m. to 5 p.m. at the Shangri-La Hotel, simultaneously viewable via Zoom.

The speakers comprise SEC Sri Lanka former DG and Chairman Dr. D. C. Jayasuriya P.C., Nithya Partners Precedent Partner and SEC Sri Lanka former DG Dr. Arittha Wikramanayake, LOLC General Insurance CEO and SEC former Director Legal Kithsiri Gunawardena. SEC Former DG and Ministry of Finance Senior Advisor Malik Cader will chair and moderate the sessions.

This seminar/webinar is for directors and senior management of listed companies, auditors and accountants, company secretaries, stockbrokers, entities regulated by the SEC, regulators, lawyers and compliance managers and investors.

The event will focus on how directors and shareholders can avoid breaching insider dealing provisions, and other salient provisions that directors and shareholders need to be aware of. The New SEC Act is a paradigm shift in regulatory approach and is timely and caters to a new disclosure-based regulatory regime that stakeholders need to be aware of.

Provisions of insider dealing have been made wider under the new SEC Act that was passed. The definition of an insider as we generally know under the previous Act is attributed to a person connected to an institution and that is listed.

The current Act gives a broader definition to include a connected person or any other person who possesses information that is not generally available and if a transaction is executed will commit an offence of insider dealing. The offence is not compoundable and the Attorney General will decide on the prosecution and a fine not exceeding Rs. 10 million or 10 years imprisonment, or both will apply. Discussion on this forum will also include salient features of the New SEC Act., other market offences and their implications on trading, impact of changes on new capital market products and services, discretionary powers of the SEC, perils of being listed on a stock exchange, and duties and responsibilities of directors under the new Act. For registration please call Yasmin 0777757748 or James 070 642 0642.