News

NatWealth Securities Ltd suspended by Central Bank

3 June 2019 - 110   - 0

NatWealth Securities Ltd (NWSL), a licensed Primary Dealer in the money markets, has been suspended by the Monetary Board of the Central Bank of Sri Lanka (CB) for six months with effect from May 31.

The CB said the action came after having considered the company’s continuous failure to comply with directions applicable to primary dealers, acting in terms of the Regulations made under the Registered Stocks and Securities Ordinance and the Local Treasury Bills Ordinance.

“The CB will take necessary measures to ensure that this regulatory action does not have a disruptive impact on the Government Securities market. Action will also be taken to facilitate the handling of the interests of the customers and counterparties of NWSL in an orderly manner,” the statement on Friday said.

This is the second primary dealer to be suspended in recent times, after the suspension of Perpetual Securities Ltd which has been implicated in a Treasury bond scam. – ENDS -

  Comments - 0

  • Leave a comment



Top Stories

Report on Batticaloa Campus to be submitted to cabinet today

The Parliamentary Sectoral Oversight Committee's report on the Batticaloa Campus will be submitted to cabinet today (Jun 25). ...

25 June 2019 - Views : 8

Hardware shop owner stabbed to death in Dehiwala

25 June 2019

Not in a hurry to take a decision on resuming office as minister : Hakeem

25 June 2019

PM requests for reduction in aircraft landing charges to attract more tourist flights

24 June 2019



style="display:inline-block;width:300px;height:250px"
data-ad-client="ca-pub-6200193111498313"
data-ad-slot="1999573490">

 

Features & Analysis

Army personnel complete Chemical Biological Radiological and Nuclear (CBRN) training

The Sri Lanka School of Military Engineering at Embilipitiya as a supportive follow-up of the 7th Army to Army Staff ...

Monthly lecture of the Wildlife and Nature Protection Society on Climate Change and our responsibility

The monthly lecture of the Wildlife and Nature Protection Society will take place today at the BMICH on the them...

Ministry of Crab to hold fundraiser for Easter victims at Shangri-La Hotel at The Shard in July

Ministry of Crab, will hold a fundraiser for victims of this year’s Sri Lanka attacks with a charity pop-up res...

Embassy of Sri Lanka gifts two Buddha statues to the Embassy of Cambodia in Berlin

The Embassy of Sri Lanka in Berlin gifted two Buddha statues to the Embassy of Cambodia in Berlin, upon a request mad...



style="display:inline-block;width:300px;height:250px"
data-ad-client="ca-pub-6200193111498313"
data-ad-slot="1999573490">