ECONOMYNEXT – Sri Lanka’s Colombo Stock Exchange has prohibited a broking firm from purchasing securities for day as disciplinary action for an unspecified breach of rules.
Bartleet Religare Securities (Pvt) Ltd has been prohibited from buying shares for clients and on its own account on Tuesday December 10, under section 11 of stock broker rules.
”..[T]he Board of Directors of the CSE has decided to prohibit BMS from carrying out purchase of securities on the Automated Trading System of the CSE on behalf of its clients and own account on Tuesday, 10th December 2019, the CSE said.
Under section 11, the CSE’s Board can imposed sanctions ranging from a warning letter to, trading prohibitions, suspend or terminate the membership. (Colombo/Dec09/2019)