AML / KYC

Sri Lanka: CSE Enables Digital ID Verification for Account Opening

22/09/2020

The CSE and Central Depository System can digitally verify national ID card details against information held by the Department for Registration of Persons.

Enforcement

Sri Lanka to Enhance Capital Market Through New SEC Act

19/09/2020

The new SEC Act will allow for recognition of new categories of market intermediaries and introduce new enforcement mechanisms to deal with market misconduct.

Market Infrastructure

Colombo Stock Exchange Digitalises Core Operations

18/09/2020

Account opening and post-trade functions such as clearing and settlement are now electronically enabled. E-contract notes and e-statements have also been adopted.

Securities / Derivatives

CBSL to Allow Foreign Investors to Hedge Currency Risk with Swaps

15/09/2020

As part of measures to lure foreign investment back into Sri Lanka, the government also plans to channel banks’ funds into the stock market.

Market Infrastructure

Bangladesh Bank Offers Assurances on Cybersecurity at Banks

14/09/2020

Bangladesh banks in facing renewed cyber threats last month, but their regulator, Bangladesh Bank, says the situation is under control.

Capital / Liquidity

Sri Lanka Eases Shareholder Limits on Commercial Banks

14/09/2020

Multilateral agencies such as the World Bank and IFC can hold up to 20% of a commercial bank. Other firms or institutions can hold up to 15%.

Securities / Derivatives

Colombo Exchange Eyes New Measures to Lure Foreign Investment

09/09/2020

Besides tax incentives, CSE Chairman Dumith Fernando told Regulation Asia the exchange has initiated a five-pronged strategy to bolster the capital market.

Enforcement

Sri Lanka to Commence Probe into State Bank Fraud  

20/08/2020

Bank of Ceylon, People’s Bank, National Savings Bank, Regional Development Bank, and their related institutions will be probed for irregularities.

Securities / Derivatives

SEBI Issues Rules on Administrative Assistance to Trustees

16/08/2020

Mutual fund trustees must appoint a dedicated employee with professional qualifications and a minimum five years of experience.