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Message: <blockquote data-quote="Thief" data-source="post: 10944490" data-attributes="member: 243930">The  Securities and Exchange Commission of Sri Lanka (SEC) by virtue of the  powers vested in it under the provisions of the Securities and Exchange  Commission of Sri Lanka Act No. 36 of 1987 as amended, conducted an  investigation pertaining to heightened trading activity and the unusual  price escalation witnessed by the shares of Dankotuwa Porcelain PLC,  Blue Diamonds Jewellery Worldwide PLC, Touchwood Investments PLC and in  the warrants of Environmental Resources Investments PLC during the  period 1st July – 3rd August 2010. The  evidence elicited during the course of the aforesaid investigation  suggested that the trades in some of the aforesaid securities which had  been executed by five investment advisors amongst several (including a  trainee investment advisor) representing three stock broking firms and  two out of a large number of investors could possibly be construed as  trades of a manipulative nature.  In  the above circumstances, the Members of the Commission, at its 285th  Meeting, held on 19th August 2011, having considered the matters  highlighted in the investigation report decided to caution the five  investment advisors and the two investors in writing. Accordingly, the  said investment advisors as well as the investors were cautioned against  execution of trades in future which can be perceived as manipulative. Further,  the Members of the Commission, at the above Meeting which was held on  19th August 2011, having considered the findings of an investigation  pertaining to suspected market/price manipulation in the shares of MTD  Walkers PLC during 11th – 19th January 2010 decided to issue Notice of  Action to another investment advisor intimating that proceedings will be  instituted against him in terms of the provisions of the Securities and  Exchange Commission of Sri Lanka Act No. 36 of 1987 as amended.  Consequently, Notice of Action was issued on the aforesaid investment  advisor in respect of the contravention of Rule 12 of the SEC Rules  published in the Gazette Extraordinary No. 1215/2 dated 18th December  2001.</blockquote>

Verification: Awruddata maasa keeyada?

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