Harsha backs Vignarajah

Wednesday, 17 October 2012 00:24 - - {{hitsCtrl.values.hits}}

UNP MP Dr. Harsha de Silva yesterday issued a statement in support of comments and recommendations made by investor K. Vignarajah with regard to new directives issued by the Securities and Exchange Commission (SEC).

Here is the full text of de Silva’s statement: The true colours of the controversial Chairman of the SEC Dr Nalaka Godahewa have once again come to light with his statement to counter the widely-publicised letter to the SEC by good governance activist K.C. Vignarajah highlighting the ongoing reversal of regulations that had been formulated, according to him, “to minimise, as far as possible insider dealing, market manipulation, front running, pump and dump practices”.

Sarcastically referring to Vignarajah as just an ‘individual’ to downplay his long and continuous attempts to bring about good governance at the CSE, perhaps long before the current Chairman first purchased a share, and referring to his observations as a ‘malicious attempt to mislead the public’ goes to show the depth of the sewage the Godahewa-controlled regulatory body has fallen into.

It is well known that a certain politically influential group is behind the manipulation of the CSE to swindle unsuspecting investors and the large public funds also controlled by the same group and they are being protected by the restructured regulatory mechanism. However, the recent coming together of eminent persons of the calibre of Chari de Silva and Mahendra Amarasuriya to fight corruption and build good governance at the CSE with Vignarajah and others goes to show that we still have a good chance of creating a financial market that investors could interact with confidence in spite of the temporary phenomenon where a gang of white collar criminals believe that the CSE can be controlled for their own personal gain. I wish Vignarajah and the others continued strength to fight for truth and justice.