CBSL suspends Business of NatWealth Securities | Daily News


 

CBSL suspends Business of NatWealth Securities

The Monetary Board of the Central Bank of Sri Lanka (CBSL) at its meeting held on May 28, having considered the continuous failure to comply with the Directions applicable to NatWealth Securities Limited (NWSL) as a Primary Dealer, acting in terms of the Regulations made under the Registered Stocks and Securities Ordinance and the Local Treasury Bills Ordinance, has decided to suspend NWSL from carrying on the business and activities of a Primary Dealer for a period of six months with effect from June 1, 2020.

The CBSL will take necessary measures to ensure that this regulatory action does not have a disruptive impact on the Government Securities market. Action will also be taken to facilitate the handling of the interests of the customers and counterparties of NWSL in an orderly manner.

 


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