Tourism head appointed as market regulator

by admin
Aug 28, 2012

Former chairman of Sri Lanka’s tourism, Nalaka Godahewa has been announced by the government as the new market regulator for the country - the chairman of the Securities and Exchange Commission (SEC).

His predecessor, Tilak Karunaratne, resigned in early August citing widespread market malpractice and impunity. Many investors have claimed that stock exchange is over regulated and Godahewa’s “market friendly” charisma has hopes to succeed. 

But some have noted that regulations will be difficult to enforce even under the new chief as investors are powerful enough to fend off any probes.

Godahewa will be the third SEC head since December.

See related articles:

Confessions from the Colombo Stock Exchange (26 Aug 2012)

Second sheriff runs out of town (17 Aug 2012)

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