Capital markets regulator the Securities and Exchange Commission (SEC) announced the appointment of top professional Malik Cader as its new Director General yesterday.
Serving 13 years at the SEC has turned out to be lucky for Malik who was the Deputy Director General and Officer in Charge prior to being appointed the 7th Director General.
The appointment follows a competitive process after the post was advertised, with over 30 people applying.
Malik also went through a full examination by the Commissioners of SEC prior to being unanimously recommended for the topmost post for approval and appointment by President Mahinda Rajapaksa who is also the Minister of Finance and Planning.
Malik joined the SEC in May 1997 and has held the posts of Director Legal and Enforcement, Director External Relations and Market Development and Senior Manager Training and Market Development of the SEC.
In addition to his duties at the SEC, he was appointed the Director Public Relations & Market Development of the Insurance Board of Sri Lanka from March 2001 to September 2005, when the SEC Secretariat was designated as the Secretariat of the Insurance Board of Sri Lanka.
An attorney-at-law with over 20 years at the Bar, Malik is a solicitor of the United Kingdom. Prior to joining the SEC he practiced commercial and civil litigation.
He has had extensive exposure and experience in capital markets as well as in capital market regulation and has studied capital market structures and regulations in countries such as USA, Japan, Malaysia, Singapore, Thailand, Korea, Australia, New Zealand, Canada, South Africa and India. He has been actively involved in deliberations of the International Organisation of Securities Commissions (IOSCO) and has represented Sri Lanka at many of its meetings including the Annual Conferences, Asia Pacific Regional Committee meetings, Emerging Market meetings, Executive Committee meetings etc. He was also instrumental in fostering strong relationships between the SEC and IOSCO.
Malik was responsible for organising the first ever IOSCO event in Sri Lanka, the Asia Pacific Regional Committee Meeting (IOSCO APRC meeting), and in 2005 facilitated and coordinated the organisation of the largest international conference in Sri Lanka, the IOSCO Annual Conference 2005.
He was a Director, Continuing Legal Education and Past Chairman, Standing Committee of Lawyers in Employment of the Bar Association of Sri Lanka and is also a Past President of the Association of Corporate Lawyers Sri Lanka.
Malik was the President of the Junior Chamber (Jaycees) Sri Lanka, elected World Vice President, Junior Chamber International (JCI) and was selected as the leader of the English Debating Team of the Sri Lanka Law College.