Former chairman of Sri Lanka’s tourism, Nalaka Godahewa has been announced by the government as the new market regulator for the country - the chairman of the Securities and Exchange Commission (SEC).
His predecessor, Tilak Karunaratne, resigned in early August citing widespread market malpractice and impunity. Many investors have claimed that stock exchange is over regulated and Godahewa’s “market friendly” charisma has hopes to succeed.
But some have noted that regulations will be difficult to enforce even under the new chief as investors are powerful enough to fend off any probes.
Godahewa will be the third SEC head since December.
See related articles:
Confessions from the Colombo Stock Exchange (26 Aug 2012)
Second sheriff runs out of town (17 Aug 2012)
We need your support
Sri Lanka is one of the most dangerous places in the world to be a journalist. Tamil journalists are particularly at threat, with at least 41 media workers known to have been killed by the Sri Lankan state or its paramilitaries during and after the armed conflict.
Despite the risks, our team on the ground remain committed to providing detailed and accurate reporting of developments in the Tamil homeland, across the island and around the world, as well as providing expert analysis and insight from the Tamil point of view
We need your support in keeping our journalism going. Support our work today.
For more ways to donate visit https://donate.tamilguardian.com.
