SEC to conduct dialogue with public listed companies
View(s):In a bid to engage stakeholders, the Securities and Exchange Commission of Sri Lanka (SEC) will launch the first in a ‘Chairman’s Forum’ series, on Thursday April 25 at the Colombo Hilton.
The Colombo Stock Exchange (CSE) has been invited to be present at this forum which will be conducted each quarter from henceforth, Chairman SEC, Ranel Wijesinha told the Business Times. “In order to provide each stakeholder group with adequate opportunity to engage the capital market regulator, we intend to have dates dedicated to each stakeholder group,” he said.
This will be the first in the series entitled “Dialogue with Public Listed Companies (PLCs)” and will see Chairpersons of PLCs, Chief Executive Officers, Chairpersons of the Audit Committee/Chairpersons of the Risk Management and Mitigation committee (in the case of banks the Integrated Risk Management Committee) and the Company/Board Secretaries. Already more than 100 officials have confirmed participation to the SEC, officials said.
PLCs have been encouraged to present any issues, thoughts, ideas or recommendations with regard to regulatory matters as well as capital market development matters, with specific reference, inter-alia to the Corporate Governance Framework (CEO and Chairman Duality), Continuous Listing Requirement Rules – Minimum Public holding, Board Room Governance matters with specific reference to role of the Chairman Audit Committee, Chairman Risk Committee (in particular in the case of banks), role of the Company Secretary, role of the Chief Legal Officer as contributors to regulation and compliance, role of Auditors and other service providers and its impact on regulation and compliance, Communications with the SEC as well as the CSE, Invest Sri Lanka Fora (on lines similar to what was conducted in London and Edinburgh in 2018 to promote Sri Lanka as an off shore destination) and Initiatives towards women participation on boards, a SEC media release said.