By Viraj Dayaratne PCChairman Securities and Exchange Commission of Sri LankaThe new Securities and Exchange Commission Act No. It repeals and replaces the Securities and Exchange Commission Act No. Part III titled ‘Issue of Securities’ deals with Public Offer of Securities, Market Intermediaries and the Protection of Clients’ Assets. In contrast to the previous Act, the Act has incorporated these specific requirements in relation to market intermediaries in the body itself. Such requirement may be introduced taking in to consideration ‘the volume of securities, class of securities, the number and type of investors, the nature of the issuer or the nature of the securities market’.

Source: The Nation October 04, 2021 00:11 UTC