Keep The Public Informed Of Securities Regulations: Jayaratne
July 19, 2014
Good governance activist Chandra Jayaratne has requested the Securities and Exchange Commission of Sri Lanka (SECSL) to inform all stakeholders of the society concerning Securities Rules and Regulations and the effective enforcement processes applicable when dealing with Mergers and Acquisitions that give rise to the concentration of economic power and market control opportunities.
Jayarathne who was also the former Chairman of the Ceylon Chamber of Commerce, in a letter to the SECSL on Thursday (17) has pointed out that the concentration of economic and market control power in the hands of a few can result in detrimental impacts on consumer interests and business.
He has also pointed out that due to the inevitable likelihood of such concentration of economic and market control power among a handful that would lead to anticompetitive practices (arising from the need to obtain and maintain control) can negatively impact the growth and prosperity of the country in the longer term .
In his letter therefore, he has suggest the present situation deems it essential that the following steps be adopted in order to ensure effective market operation and growth.
We publish below the letter in full;
Officer-in-Charge / Deputy Director General,
Securities and Exchange Commission of Sri Lanka,
Level 28 and 29, East Tower, World Trade Centre,
Echelon Square,
Colombo 01
Dear Sir,
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