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Illegal financial transactions:
CSE on alert
Charumini de Silva
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Channa de Silva |
The Colombo Stock Exchange (CSE) is on alert for all the transactions
and if there are any suspicious transactions going on in the market, the
CSE will inform the Financial Intelligence Unit (FIU), which is
regulated by the Central Bank, Securities Exchange Commission (SEC)
Director General Channa de Silva told Daily News Business.
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The Central Bank
of Sri Lanka said that investigations are yet continuing in
relation to the funding allegedly provided by Raj Rajaratnam to
the TRO. Accordingly, any reports that suggest that such
investigations are concluded or that Rajaratnam has been cleared
of possible involvement are incorrect and misleading. |
The CSE has been practising for some time and there are certain
guidelines to prevent illegal transactions in the CSE.
He said there will be a negative impact on the market with the
absence of Raj Rajaratnam since he is a major investor in several blue
chip companies and is a member of two stock broking companies. So there
could be a lower demand in the market.
“Our primary concern is to have a clean and a better market without
illegal funds entering into the transactions to the CSE”, he said.
Even though it is a loss to the market it is important to have an
enhanced and a clean market with no illegal money in the CSE
transactions.
“We will take precautions to salvage Sri Lanka being associated with
funds which are linked to any criminal act or legal violation”, de Silva
said.
There is possibility for a further enhanced market in the first
quarter of 2010 with the high investor confidence and we hope that there
would be more companies to get listed in the CSE”, he said. |
