Sajith Ad

CFA Sri Lanka, SEC to promote higher standards, protect investor rights

Colombo Stock Exchange Board

ECONOMYNEXT – The Sri Lanka unit of the Chartered Financial Analyst (CFA) Institute, a global association of investment professionals, will work with the capital markets watchdog to promote higher standards and protect investor rights.

The Securities and Exchange Commission SEC) said it has entered into a memorandum of understanding with the CFA Society Sri Lanka (CFASL) to establish a long-term partnership.

“The MoU will serve as a vehicle to enable the two institutions to work together to promote codes and standards of best practice in the Sri Lankan capital market,” a statement said.

“In addition, under the agreement both parties will also be able to collaborate on initiatives pertaining to investor rights and joint educational initiatives, such as advertisement campaigns, workshops, seminars and conferences.”

SEC chairman Ranel Wijesinha said that in the latter part of 2018 and in 2019 the regulator was restructured to make it more proactive.

“Entering into a MoU with the CFASL will further facilitate programmes of investor protection and professional standards,” he said.

“We can work together with the SEC to improve market integrity and transparency as well as to encourage the adoption of the highest standards and practices within the investment industry,” said Zaffar Jeevunjee, president of CFASL.
(COLOMBO, 21 October 2019)