The Securities and Exchange Commission of Sri Lanka files action against Mr Sajee Lakshman Perera

The Securities and Exchange Commission of Sri Lanka (SEC), in the exercise of the powers conferred upon it by the Securities and Exchange Commission of Sri Lanka Act No. 36 of 1987 (as amended) (SEC Act), has instituted action in the Magistrate's Court, Fort, against Mr Sajee Lakshman Perera, an investment advisor employed by a broking company during the period in question, for the offences of

•  market manipulation in terms of Rule 12 of the Rules of the SEC set out in Gazette Extraordinary No. 1215/2 of 18 th December 2001; and

•  knowingly giving false answer to any question put to him by a person duly authorized by the SEC under the provisions of Section 46A(4) of the SEC Act.

The manipulation alleged is in connection with the trades in shares of Ceylon Grain Elevators Limited during the period of July 2003.

Channa de Silva

DIRECTOR GENERAL