The Securities and Exchange Commission (SEC) Bill came into effect yesterday with the Speaker Mahinda Yapa Abeywardena endorsing the certificate on the Bill. The Bill was presented by the Minister of Finance in Parliament on 9 July 2021 which was published in the gazette on 28 June 2021. The Bill was passed in the first week of this month at the Parliament with amendments without a vote. The new law, which will replace the Securities and Exchange Commission of Sri Lanka Act No. Central Bank of Sri Lanka (CBSL) Governor Ajith Nivard Cabraal, before giving up his ministerial portfolio, recently stated that this Bill and the recently passed Amnesty Bill “will be very positive for the country’s economy”.

Source: The Nation September 21, 2021 18:45 UTC