Regulatory Alerts2022-02-15
Directive on Mandatory Updating of Contact and Bank Details for CDS Account Holders
The Securities and Exchange Commission of Sri Lanka issued a directive requiring Central Depository Systems (Private) Limited to mandate the updating of mobile numbers, email addresses, and bank account details for all its account holders. This measure aims to streamline dividend crediting to bank accounts and facilitate the online distribution of dividend warrants via registered email addresses. The directive takes effect on April 1, 2022, and instructs the Colombo Stock Exchange to monitor compliance and report findings to the Commission within six months.
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