Securities and Exchange Commission of Sri Lanka

From TobaccoUnmasked
Jump to: navigation, search

Background

Securities and Exchange Commission of Sri Lanka (SEC) is a government body established in 1987. It is the main regulating body of the Colombo Stock Exchange, the only authorized institution in stock exchange in Sri Lanka. It also has the powers to register, inspect and regulate market intermediaries and stock brokers and advise the Government of Sri Lanka on market securities.[1][2]

Links to the Tobacco Industry

SEC consists of ten members headed by a Director General. Six members are appointed by the Minister of Finance. The other four members are; Deputy Governor of the Central Bank of Sri Lanka, Deputy Secretary to the Treasury, the Registrar of Companies and the President of the Institute of Chartered Accountants of Sri Lanka. The Minister nominates the Chairman of the Commission from the members of the Commission. The complete list of the present and past Commission members as of 2017 can be found in the SEC website. The tobacco industry employees appointed as members of the Commission are mentioned below;[3]

Following members of the commission, who were not tobacco industry employees as of 2017, were involved in actions against tobacco control activities in the past;

  • Rajeev Amarasuriya (2017) - A lawyer by profession, represented a party against the National Authority on Tobacco and Alcohol (NATA) Act in the year 2006[7]
  • Suresh Shah (2017) - CEO of the Lion (Ceylon) Brewery, advocated against the tobacco and alcohol advertisement bans in the year 1999 and criticized increased tax for tobacco and alcohol industries[8][9]
  • Nigel Hatch (2003-2004) - Hatch, representing Julius & Creasy, appeared on behalf of the Ceylon Tobacco Co. Ltd. Distributors’ Association, in 2005 in the Supreme Court Appeal on NATA act. [10]

TobaccoUnmasked Resources

Other relevant TobaccoUnmasked entries:

External Link Relevant to the Page

Securities and Exchange Commission of Sri Lanka

Notes

  1. Securities and Exchange Commission of Sri Lanka. About Us, 31 December 2016, accessed March 2017
  2. The Island Online. Colombo Stock Exchange, 17 April 2003, accessed March 2017
  3. Securities and Exchange Commission of Sri Lanka. Commission Members, undated, accessed March 2017
  4. The Island Online. Volumes up helped by excise restructure to combat illicit products: Ceylon Tobacco reports superior performance, upbeat for the future, 23 March 2003, accessed March 2017
  5. The Island Online. Volumes up helped by excise restructure to combat illicit products: Ceylon Tobacco reports superior performance, upbeat for the future, 23 March 2003, accessed March 2017
  6. First Guardian Equities.Com. Company Directors, undated, accessed March 2017
  7. Supreme Court Document on National Authority on Tobacco and Alcohol Bill, 20 June 2006, accessed March 2017
  8. F Smith. HEALTH-SRI LANKA: Rights Concern Stalls Tobacco, Alcohol Ad Ban, Inter Press Service, 19 February 1999, accessed March 2017
  9. Ceylon Beverage Holdings PLC. Chief Executive’s Review: Annual Report 2011-2012, 08 May 2012, accessed March 2017
  10. Supreme Court Document on National Authority on Tobacco and Alcohol Bill, 16 January 2006, accessed March 2017