Cabinet Approval For Securities Exchange Act
Cabinet approval has been granted to publish the proposed Securities Exchange Bill published in the government gazette and thereafter submitted to Parliament for approval.
The draft bill has been submitted to the committee of the Hon. Prime Minister Ranil Wickremesinghe, as the Minister of National Policy and Economic Affairs.
The Cabinet of Ministers has already approved the introduction of a new Act, instead of the Securities and Exchange Commission Act No. 36 of 1987, in accordance with the current challenges facing the capital market.
Accordingly, the proposed “Securities Exchange Bill” for Sri Lanka has been prepared taking into account the regulatory principles and standards pursued by the stock market regulatory bodies that have successfully operated in developed countries.