Top SEC official sent on compulsory leave
View(s):Dhammika Perera, Deputy Director General (DDG) at the Securities and Exchange Commission (SEC), who has had several controversial issues, was served with compulsory leave orders by the SEC on Wednesday.
This came on the back of the Commissioners conducting a thorough study of Mr. Perera’s activities. “After this they decided to send him on compulsory leave pending inquiry,” a source told the Business Times.
A former SEC Director, Investigations, Mr. Perera was appointed as the DDG in 2012 during the tenure of Nalaka Godahewa as the SEC chairman.
In the meantime the SEC’s Surveillance Division has been strict with errant stockbrokers and investors in a crackdown on malpractices. “When they detect some suspicious transaction, the offenders are warned”.
While high growth in the Colombo stock market was seen in 2009, 2010 and in the first quarter of 2011, it also caused a high degree of price volatility and created many regulatory and supervisory issues plus accusations of fraud and malpractices.