Proposed Investors Association taking root
View(s):The formation of a proposed Investors Association representing small and minority investors to ensure a ‘level playing field’ in the Colombo stock market is taking root, organisers said. It has also triggered ‘concerns’ among influential business groups and brokers dominant in the market, as to the watchdog role this group hopes to play to ensure justice, fair-play and governance in the marketplace.
A core group, appointed from an earlier meeting of investors, met last week to discuss the structure and formation of the association which has the support of the Securities & Exchange Commission (SEC). Among the issues discussed were for the association to be a national voice for investors in the stock market and a catalyst for enhancing the rights of shareholders, promote corporate governance through shareholder activism, protect the rights of minority shareholders, independence of auditors and role of an independent director.
Investor/shareholders who were not present at the first meeting held on June 20 held in Colombo, and are interested in joining this association, can write to the Business Editor (email: bt@sundaytimes.wnl.lk) for further details or by post: Business Editor, Sunday Times, No 8, Hunupitiya Cross Road, Colombo 2 for further details.
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