Senior Professor D.B.P.H. Dissabandara, appointed as the new Chairman of the Securities and Exchange Commission of Sri Lanka (SEC), highlighted the importance of balancing market development with robust regulatory oversight to ensure the security, fairness, and efficiency of Sri Lanka’s capital markets.
To achieve these objectives, Prof. Dissabandara outlined a comprehensive set of plans, focusing on both short-term and medium-term initiatives:
1. Short-term Plan: Focused on addressing immediate market challenges to ensure seamless daily operations, maintain investor confidence, and reinforce market stability.
2. Medium-term Plan: Centred on key projects pivotal to transforming our capital market landscape, including:
- Transforming the Colombo Stock Exchange (CSE) through Demutualization
- Expanding the Corporate Debt Market for Broader Investment Opportunities
- Innovation in Product Development to Diversify Market Offerings
- Fostering Growth within the Collective Investment Scheme Industry
- Strengthening participants with Enhanced Education, Awareness and Training Initiatives
- Encouraging New Public and Private Listings to Broaden Market Participation
- Attracting Local and International Funds to Boost Capital Flow
- Implementing a Central Counterparty (CCP) Mechanism at the CSE for Market Efficiency
- Establishing a Multi-Asset Class Derivatives Exchange to Enhance Trading Options
- Enhancing the Regulatory Framework to Support a Resilient Market
- Promoting Digital Transformation to Modernise Market Infrastructure
- Developing Robust Market Risk Management Practices for Stability
3. Long-term Plan: With stakeholder collaboration, this forward-looking strategy spanning the next two to three decades aims to adapt Sri Lanka’s capital market to the evolving needs of future generations.