Sri Lanka’s new stock market regulator takes over
EconomyNext – Tilak Karunaratne assumed duties as the Chairman of the Securities and Exchange Commission (SEC) on Wednesday.
This is his second stint as chairman, having headed the regulator for less than a year in 2012 before quitting, complaining the former regime interefered with his probes into stock market irregularities.
Karunaratne served as the Chairman of the SEC from December 2011 to August 2012.
Karunaratne’s resignation in August 2012 came less than a year after his predecessor, Indrani Sugathadasa, resigned in December 2011 hinting at similiar reasons for quitting, saying she wanted to "uphold her principles"
Karunaratne is also a Chartered Chemist, the SEC said in a statement.
After completing his secondary education at Ananda College, Colombo, Karunaratne entered the University of Ceylon and graduated with a BSc. in Chemistry.
He was a Member of Parliament for 12 years up to year 2000 when he resigned on his own to rejoin the private sector.