Monday Jan 12, 2026
Monday Jan 12, 2026
Monday, 12 January 2026 03:45 - - {{hitsCtrl.values.hits}}
Securities and Exchange Commission (SEC) said yesterday it has identified those primarily responsible for the abnormal Wealth Trust Securities Ltd., prices on 7 January.
“There may be other parties involved as well. We have summoned and questioned several individuals, reviewed records, and launched a full investigation,” SEC Officer in Charge/Deputy Director General Tushara Jayaratne said.
“The Colombo Stock Exchange (CSE) took immediate corrective action. From 8 January onwards, investors can no longer place market orders on a security’s first trading day. However, this will not negatively impact price discovery on the first day of trading. Despite implementing this safeguard, a few investors still attempted to enter sell orders at excessive prices on 8 January. We identified and warned them. These orders were not executed due to the new restrictions. I should note that most investors acted responsibly, only a few attempted such actions.
“Most of the parties we identified are retail investors using internet trading platforms without consulting licenced investment advisers attached to broker firms. These individuals understand how the system operates, their actions were deliberate, not mistakes.
“These are our initial findings and there may be connected parties. The investigation will reveal the complete picture. It is a comprehensive and time consuming process, but we have instructed our investigation team to conclude it as soon as possible.
“If our investigation confirms that anyone manipulated the market or contributed to this issue, we will take strict action against them in accordance with the Securities and Exchange Commission Act,” Jayaratne emphasised.
