The Offence of Front Running
Type of enforcement action
Compounding
Name of Party
Anusha Palpita
Conduct and outcome
Upon a request to compound the offence of front running found to have been committed by this individual in several number of shares during the period from 03rd May 2021 to 26th July 2021 with the use of his own CDS Account and that of his spouse in contravention of Rule 14 of the SEC Rules, published in the Gazette Extraordinary No.1215/2 dated 18th December 2001, the Commission decided to compound the said offence in terms of section 51A of the then Securities and Exchange Commission of Sri Lanka Act No. 36 of 1987 upon the payment of a sum of Rs. 3.3 Million to the Compensation Fund of the SEC.
Date of Compounding: 04th March 2024
Kindly note that the names of certain personnel against whom enforcement action were taken in the past pertaining to this offence have been removed in accordance with the retention policy for publications.