SLID webinar on corporate governance framework under new SEC Act on Thursday

The Sri Lanka Institute of Directors (SLID) will host a webinar on corporate governance framework under the new Securities and Exchange Commission (SEC) Act on Thursday, 27 February, via MS Teams.

It will bring together in discussion an imminent panel comprising SEC Former Director of Corporate Affairs Dr. Harshana Suriyapperuma (keynote speaker), SEC Former Chairman and Director General Dr. D.C. Jayasuriya PC, KPMG Sri Lanka Managing Partner Reyaz Mihular and Advocata Institute Chairman and JB Securities CEO Murtaza Jafferjee. The session will be moderated by Candor Group, Seylan Bank PLC and HNB Assurance PLC Director Ravi Abeysuriya.

SLID said governance was an essential component for listed companies, particularly in the light of the new SEC Act. Going forward, corporate behaviour is expected to be under the regulatory scope in greater detail than ever before, given the new powers vested in the Act. Therefore, it is critical for all listed companies to ascertain the risks, including regulatory risks and costs, in order to promptly implement measures to address them.

Board independence is a cornerstone of corporate governance. Several Asia-Pacific markets have seen regulatory initiatives to strengthen the role of independent directors on boards of listed companies. 

“Due to the extension of the scope and possible liability arising from compliance requirements, listed companies, their boards of directors, employees, auditors, advisors and other applicable parties dealing with such companies, are expected to have a fair understanding in order to minimise any undue exposures and liabilities,” stated Dr. Harshana Suriyapperuma, who will make the keynote address at the session. In this regard, structuring and, more importantly, effectively implementing a comprehensive governance framework across the company is amongst the means of enhancing the mechanisms available to the Board Directors to reduce liabilities arising from regulatory non-compliance.  

SLID said this session would provide a valuable opportunity to get one step closer to a better understanding of the mandatory Corporate Governance Code for the enhancement of compliance and minimising of regulatory costs arising from the new SEC Act. Registration fee is Rs. 4,500. To participate, email the SLID Secretariat at [email protected].

SLID stands at the forefront of corporate governance in Sri Lanka bringing together the largest community of boardroom leaders comprising directors representing the private and public sectors in Sri Lanka. SLID also recognises ‘Aspiring Directors’ as an important segment of its overall membership. The institute is committed towards creating ‘Better Directors, Better Boards and Better Companies’ through its ‘best in class’ board leadership training and wide range of knowledge and skills building programs.