Regulatory Alerts2017-01-30
Guidelines on Fitness and Propriety
The Securities and Exchange Commission of Sri Lanka issued these guidelines to establish criteria for assessing the fitness and propriety of directors, senior management, and significant shareholders of regulated entities. The document mandates that regulated entities implement robust policies to ensure key personnel demonstrate honesty, integrity, competence, and financial soundness through continuous evaluation. It outlines specific assessment factors, including criminal history, professional discipline, and solvency, to maintain high standards of market practice and integrity within the securities industry.
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