Regulators

Sri Lanka Securities and Exchange Commission (SEC)

Sri Lanka Securities and Exchange Commission was established in 1987

Organization Profile

Institutional nature
The Sri Lanka Securities and Exchange Commission was established in 1987. The Sri Lanka Securities and Exchange Commission (SEC) was established under Sri Lanka Securities and Exchange Commission Act No. 36 of 1987, which was amended three times: Act No. 26 of 1991, Act No. 18 of 2003 and Act No. 47 of 2009.
Regulatory functions
1. To authorize the body corporate to operate as a stock exchange and to ensure the proper conduct of its business;
2. Issue a license to a stockbroker or stock dealer and ensure that its business can be carried out properly;
3. Issue a license to the management company to operate the unit trust and ensure that the business of the unit trust can be carried out properly;
4. Issue a certificate of registration to individuals to conduct business as a market intermediary and ensure the proper conduct of such business;
5. To give instructions to licensed stock exchanges or licensed securities brokers, licensed securities dealers or licensed management companies or trustees of unit trusts or registered market intermediaries;
6. To compensate investors who have suffered monetary losses as a result of any licensed securities broker or licensed securities dealer being adjudged incapable of performing their contractual obligations;
7. To advise the government on the development of the securities market;
8. To employ personnel and civil servants necessary for the conduct of the work of the SFC;
9. To regulate the listing and issuance of securities on licensed stock exchanges;
10. To investigate the activities of licensed stock exchanges, licensed securities brokers or licensed securities dealers, licensed management companies or trustees of unit trusts, registered market intermediaries, listed public companies;
11. Implement government policies and plans for the securities market;
12. Investigate incidents that violate the law;
13. To examine the activities of licensed stock exchanges, licensed stockbrokers, licensed stock dealers, licensed management companies or unit trust trustees or registered market intermediaries to ensure that they comply with statutes or regulations.
Regulatory Objectives/Scope
1. To establish and maintain a market in which securities are issued and traded in an orderly and fair manner;
2. Protect the interests of investors;
3. The operation of the repayment fund to protect investors from economic losses caused by the inability of any licensed securities broker or licensed securities dealer to perform their contracts;
4. Regulate the securities market and ensure that the market maintains professional standards.
Mission: To be an efficient and active capital market regulator in South Asia
Mission: To promote, develop and maintain fair, efficient, orderly and transparent capital markets
Contact
Tel: 94 11 2143843
Fax: 94 11 2439149
Email: [email protected]
Address: Level 28 and 29, East Tower, World Trade Centre, Echelon Square, Colombo 01, Sri Lanka.

Regulatory Inquiries

Step 1 Go to the official website of the Sri Lanka SEC http://www.sec.gov.lk/, and click "Who We Regulate" under "Licensing and Registration";

Step 2 After entering the "Who We Regulate" page, select "List of Regulatees as at 30th June 2018" (list of regulated companies on June 30, 2018).
Note: The supervision list will be updated from time to time, please search according to the latest list.

Step 3 After entering the "List of Regulatees as at 30th June 2018" page, enter the company name to search (press Ctrl+F at the same time to get the search box).

Regulatory complaints

When you are not satisfied with your investment, you can file a complaint in 3 steps:
Step 1: Contact the financial company directly
When you have a complaint, the best way is to contact the financial company directly to help resolve it.
Step 2: If you are not satisfied with the financial company's processing results, you can file a complaint with the Sri Lanka SEC
If you are not satisfied with the dealer's response, you can contact the Sri Lanka SEC to file a free complaint. All complaints must be in writing. The department of Sri Lanka SEC to handle complaints is “CORPORATE AFFAIRS” (Department of Affairs).
Complaints from most financial companies can be submitted to the Sri Lanka SEC by mail.
Mail complaint address: [email protected]
Note: If you are complaining against a market intermediary or a unit trust manager, you can also file a complaint with the Sri Lanka SEC through an online complaint.
Online Complaint Address: http://www.sec.gov.lk/?page_id=657
Online Complaint Form Translation Reference Template:

Step 3: File a complaint in court
If you are not satisfied with the response from the financial company or the Sri Lanka SEC, you can file a complaint in court.

Example of punishment

FAQs

Does the Sri Lanka SEC protect Chinese investors?
A: The Sri Lanka SEC protects the clients of all companies regulated by it. That said, the SEC protects Chinese complainants.

Related Links

Central Bank of Sri Lanka: http://www.cbsl.lk
Sri Lankan government website: http://www.gov.lk
International Organization of Securities Commissions: http://www.iosco.org
Sri Lanka Ministry of Justice: http://www.attorneygeneral.gov.lk
Colombo Stock Exchange: http://www.cse.lk

Relevant Navigation

No comments

No comments...