No plans to wire tap brokers

The Securities Exchange Commission (SEC) or the Telecom Regulatory Commission TRC) does not have any plans to monitor transactions done through stock brokers.

Telecom Regulatory Commission’s Director General Anusha Pelpita told the Daily News that they have no intention of invading the privacy of any clients of the SEC. “Firstly there is no such request for the SEC and if there is any request of this nature we would not tolerate it as we do not have the authority to do so,” he said firmly.

An official referring to Media reports said that the SEC is not in a position to do this. “We are not keen on this anyway,” he said.

He said SEC is a monitoring body and under their new Chairman they want to carry on their good work and would not want to get involved in any controversy.

He said the country is now on a sound financial situation and the healthy stock market would help to woo more investors.

The SEC does not want to tarnish this image by bringing these so called ‘tapping’ regulations. The creation and maintenance of a market in which securities can be issued and traded in an orderly and fair manner is the objective of the SEC.

In addition SEC regulates the securities market and ensures that professional standards are maintained,” he said.

SS