Sri Lanka: Technical Assistance Report-Enhancing the Effectiveness of the Sri Lankan Securities Market Enforcement Program

May 21, 2019

Preview Citation

Format: Chicago

Sri Lanka: Technical Assistance Report-Enhancing the Effectiveness of the Sri Lankan Securities Market Enforcement Program, (USA: International Monetary Fund, 2019) accessed September 19, 2024

Summary

This paper discusses the report of technical assistance mission to Sri Lanka. The report highlights that Sri Lanka has embarked on a program of reform intended to enable the country to emerge as an internationally competitive middle level economy. The mission concentrated on practical, operational steps that the Securities and Exchange Commission (SEC) could take to build capacity to increase the deterrent impact of its enforcement program in the current and anticipated regulatory environments. The mission recommended that the SEC continues to pursue measures to improve efficiency, effectiveness and accountability. In order to augment the impact of the enforcement program, the SEC is encouraged to foster public transparency to the extent possible without compromising confidential enforcement processes and activities. While the recommendations in this report will improve the effectiveness of the SEC’s enforcement program, credible deterrence cannot be achieved without the new civil and administrative enforcement authority in the draft Securities Exchange Act.

Subject: Capital markets, Financial markets, Securities markets

Keywords: B. SEC investigation process, Capital markets, CR, Enforcement action, Enforcement policy, Enforcement program, Enforcement program deficiency, Enforcement staff, Global, ISCR, Management system, SEC initiative, SEC investigation process, SEC review, Securities markets

Publication Details

Pages:

20
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2019/140
Stock No:

1LKAEA2019002
ISBN:

9781498316187
ISSN:

1934-7685

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