Other Warnings
Type of enforcement action
Name of Party
Conduct and outcome
Warning
Mr. U.S.P.K Liyanage
Allowing the use of his CDS Account to his son, Mr. Dushan Imalka Kirumbara Liyanage and its login details without following proper procedure.
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Date of Issue: 03rd May 2023
Warning
Mr. W.A.K. Janith Dewmina
Publication of the name, title, description and the logo of the word ‘stock exchange’ in a social media Group
The Commission after having considered the findings of the Surveillance Division, decided to warn this individual against any conduct where his conduct can be perceived as holding the name, title, description and the logo of the word ‘stock exchange’.
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Warned on 13th January 2023
Warning
Mr. U.L.B Ariyarathne
The SEC issued a letter of warning to the Investment Advisor for not adhering to the Stockbroker Rules (particularly Rules 3.1, 3.5.1, 3.5.3, 7.1.3 (2)) and the procedures laid down in the provisions of the SEC Act when acting on behalf of clients.
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Warned on 25th November 2022
Warning
Asia Securities (Pvt) Ltd
The SEC issued a letter of warning to the Stockbroker Firm for not following proper procedures laid down in the Stockbroker Rules (particularly Rules 3.1, 3.5.1, 3.5.3, 7.1.3 (2)) in connection with the conduct of an Investment Advisor (employed by the firm) when dealing with clients.
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Warned on 25th November 2022
Warning
Mr. Sabri Marikar
The SEC issued a letter of warning to the Investment Advisor for his failure to follow the documented procedure prevalent at his Stockbroker Firm relating to carrying out staff trades as required by Rule 2.2.3 of the Stockbroker Rules of the CSE.
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Warned on 25th November 2022
Warning
Mr. K.G.D.C. Rukshan
The SEC issued a letter of warning for publishing certain posts on social media, making recommendations and comments on securities trading on the Colombo Stock Exchange without a proper basis and without being a registered by the SEC as a Registered Investment Advisor.
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Warning issued on 26th October 2022
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.