Parliament on Thursday passed three amendments to the Securities and Exchange Commission (SEC) Act of 1987, providing more powers to the regulator while facilitating derivatives and futures trading, a senior SEC official said.
“The amendments to Sections 55, 13 and 3 of the SEC Act were passed by Parliament,” Channa de Silva, SEC Director General told the Sunday Times FT.
He said the word ‘securities’ in Section 55 has been extended to include derivatives, futures and options together with products which are based along with an underlying asset such as commodities. Mr. de Silva said another amendment enables the SEC to issue general and specific directives to listed firms. |
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