COLOMBO, Sept 2 (Bernama-Xinhua) -- Sri Lanka's Securities and Exchange Commission (SEC) will adopt a sophisticated market surveillance system from Nasdaq, aiming to detect and address market irregularities and potential fraud, SEC Chairman Faizal Salieh announced on Sunday.
He said that the initiative was expected to bolster investors' confidence and foster a fair and transparent trading environment, reported Xinhua.
Salieh said that the partnership with Nasdaq provided the SEC with cutting-edge technology to monitor the market, enforce regulations promptly, and cultivate a more transparent and investor-friendly market environment.
He said the system will undergo testing and is expected to be fully operational within five months of the agreement signing.
The SEC and Nasdaq signed a contractual agreement on Aug 30 in Colombo.
--BERNAMA-XINHUA
