Business

Thilak Karunaratne takes over as SEC chairman

27 January 2015 - 274   - 0

  Thilak Karunaratne will be assuming duties as Chairman of the Securities and Exchange Commission (SEC) tomorrow (Wednesday), SEC officials said. He replaces Nalaka Godahewa who was appointed by former President Mahinda Rajapaksa after an outcry by some powerful investors including Dilith Jayaweera saying strict rules by the SEC was dampening the market. The accusations were levelled at former chairpersons Indrani Sugathadasa and her successor Karunaratne who has been re-apppointed to the post under the new regime. Both these officials were highly respected but powerful business interests led to their resignation., one after the other.  Both Godahewa and Jayaweera were business associates with the former serving as director and chairman in some of Jayaweera's companies prior to being appointed SEC chair.  - Ends-

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