Saturday, January 28, 2023
No 1 epaper in Sri Lanka
  • News
  • Politics
  • Sports
  • Foreign
  • Entertainment
  • Business
  • Political Analysis
  • Inside Politics
  • EPAPERPDF
  • සිංහලSINHALA
No Result
View All Result
  • News
  • Politics
  • Sports
  • Foreign
  • Entertainment
  • Business
  • Political Analysis
  • Inside Politics
  • EPAPERPDF
  • සිංහලSINHALA
No Result
View All Result
Mawratanews.lk | Sri Lanka Latest Sinhala News and Headlines
No Result
View All Result
Home News

SEC catches several big fish; more prosecutions are on the way.

October 2, 2022
in News
A A
SEC catches several big fish; more prosecutions are on the way.

According to sources close to the capital market regulator, the Securities and Exchange Commission (SEC) has taken action against major market offenders in the past month for offences that were committed more than ten years ago, and additional charges are imminent.

Nimal Perera, who worked for the Vallibel Group of firms in the past and is currently an independent investor, is the most notable of these individuals. He has been found guilty on two separate instances of market and price manipulation.

On September 2, 2011, the SEC filed an action against Mr. Perera for creating a false market or giving the misleading appearance of active trading in the shares of Regnis Lanka PLC during the period of September to October 13, 2011 (which was 11 years ago), and in the shares of ASCOT Holdings PLC during the period of September 5 to September 12, 2011 (which was also in 2011), respectively. After receiving a request to compound from Mr. Perera, the Commission made the decision to compound this offence after the parties paid a penalty of 3.3 million rupees each, for a total of 6.6 million rupees, to the compensation fund of the SEC. These payments were made without an admission of liability. The violation can be found in Section 51 A of the SEC Rules and falls under Rule 12 of those rules.

On August 17, a warning was given to Buddhika Payou regarding the manipulation of the market and the prices of goods.

A. S. Hendavitharana, Dr. N. A. Senadeera, P.H.K. Boteju, I. P. A. Piyatissa, W. M. N. P. Rathnayaka, K.A.D.A. Meththasena, H.J.M.D.N. Bandara, and W.R. Dharmasena were all issued letters of warning by the SEC on January

The governing body has also held three people accountable, namely K. Boralessa, A. Medonza, and J. M. Alles, for failing to make immediate disclosure of crucial information in connection with the financial crisis that Magpek Exports Ltd. is currently experiencing.

K. Keithiswaran was found guilty of submitting audited financial accounts in the Annual Reports of Singalanka Standard Chemicals PLC under forged signatures, and the offence was compounded upon him confessing that he was responsible for the crime.

According to what was said on the website of the Securities and Exchange Commission (SEC), the names of specific people for whom enforcement action had been taken in the past on certain offences were removed in accordance with the retention policy for publications.

Within the previous 15 years, this action taken by the regulator of the capital market has been one of the most successful in terms of bringing those responsible to justice. The Securities and Exchange Commission (SEC) has been moving slowly in its investigations of stock market manipulators who were monopolising the market during the time of Mahinda Rajapaksa.

Share51Tweet32SendShare13
Previous Post

The price of Ceylon Tea continues to struggle.

Next Post

Economic crisis: the government considering a downgrade

MORE NEWS

Because of India, Gota and Mahinda eventually meet face to face! VIDEO
News

Because of India, Gota and Mahinda eventually meet face to face! VIDEO

January 27, 2023
Maithri-Dullas-Vimal-Udaya-Anura-Vasu-Ratana Thera team up to begin the helicopter journey! VIDEO
News

Maithri-Dullas-Vimal-Udaya-Anura-Vasu-Ratana Thera team up to begin the helicopter journey! VIDEO

January 27, 2023
Sajith bans contracts SJB MPs! 2019 serves as a reminder of how people were duped! People abound in Dehi Attakandiya! The battle begins with Sajith! VIDEOS & IMAGES
News

Sajith bans contracts SJB MPs! 2019 serves as a reminder of how people were duped! People abound in Dehi Attakandiya! The battle begins with Sajith! VIDEOS & IMAGES

January 27, 2023
The HRC has filed a lawsuit against the Ministry  and the CEB for power outages during the A/L s! Failure to carry out directives! The commission has been insulted and disrespected!
News

The HRC has filed a lawsuit against the Ministry and the CEB for power outages during the A/L s! Failure to carry out directives! The commission has been insulted and disrespected!

January 27, 2023
Government revenue worth billions of dollars lost! A national security risk! A large swindle that brings unregistered mobile phones to Sri Lanka via parcel pullers! PHOTOS
News

Government revenue worth billions of dollars lost! A national security risk! A large swindle that brings unregistered mobile phones to Sri Lanka via parcel pullers! PHOTOS

January 27, 2023
Threatened and pressured to sign! Kanchana is prepared to file a lawsuit against the Human Rights Commission!
News

Threatened and pressured to sign! Kanchana is prepared to file a lawsuit against the Human Rights Commission!

January 27, 2023
Load More
Leave Comment

Free Newsletter

Register for our weekly epaper for latest news updates.

MORE NEWS

Because of India, Gota and Mahinda eventually meet face to face! VIDEO
News

Because of India, Gota and Mahinda eventually meet face to face! VIDEO

January 27, 2023

After some time, the former presidents' brothers, Mr. Gotabaya Rajapaksa and...

Read more
Maithri-Dullas-Vimal-Udaya-Anura-Vasu-Ratana Thera team up to begin the helicopter journey! VIDEO

Maithri-Dullas-Vimal-Udaya-Anura-Vasu-Ratana Thera team up to begin the helicopter journey! VIDEO

January 27, 2023
Sajith bans contracts SJB MPs! 2019 serves as a reminder of how people were duped! People abound in Dehi Attakandiya! The battle begins with Sajith! VIDEOS & IMAGES

Sajith bans contracts SJB MPs! 2019 serves as a reminder of how people were duped! People abound in Dehi Attakandiya! The battle begins with Sajith! VIDEOS & IMAGES

January 27, 2023
The HRC has filed a lawsuit against the Ministry  and the CEB for power outages during the A/L s! Failure to carry out directives! The commission has been insulted and disrespected!

The HRC has filed a lawsuit against the Ministry and the CEB for power outages during the A/L s! Failure to carry out directives! The commission has been insulted and disrespected!

January 27, 2023
Government revenue worth billions of dollars lost! A national security risk! A large swindle that brings unregistered mobile phones to Sri Lanka via parcel pullers! PHOTOS

Government revenue worth billions of dollars lost! A national security risk! A large swindle that brings unregistered mobile phones to Sri Lanka via parcel pullers! PHOTOS

January 27, 2023
Threatened and pressured to sign! Kanchana is prepared to file a lawsuit against the Human Rights Commission!

Threatened and pressured to sign! Kanchana is prepared to file a lawsuit against the Human Rights Commission!

January 27, 2023
Load More

One of the best Sri Lanka Latest News Website and Sinhala language newspaper with Sunday editions, published by Free Media Independent Networks Pvt Ltd.

Browse by Category

  • Business
  • Entertainment
  • Foreign
  • Gurudawa
  • My Serendib
  • News
  • Politics
  • Rajya Rahas
  • Sports
  • Uncategorized

Latest news

Because of India, Gota and Mahinda eventually meet face to face! VIDEO

Because of India, Gota and Mahinda eventually meet face to face! VIDEO

January 27, 2023
Maithri-Dullas-Vimal-Udaya-Anura-Vasu-Ratana Thera team up to begin the helicopter journey! VIDEO

Maithri-Dullas-Vimal-Udaya-Anura-Vasu-Ratana Thera team up to begin the helicopter journey! VIDEO

January 27, 2023

Free Newsletter

Register for our weekly epaper for latest news updates.

Copyright © 2019 -2021 Free Media Independent Networks Pvt Ltd, All Rights Reserved. Solution by hodama.net

No Result
View All Result
  • News
  • Politics
  • Sports
  • Foreign
  • Entertainment
  • Business
  • Political Analysis
  • Inside Politics
  • EPAPER
  • සිංහල

Copyright © 2019 -2021 Free Media Independent Networks Pvt Ltd, All Rights Reserved. Solution by hodama.net

Go to mobile version