Regulatory Alerts2013-11-04
SEC Sri Lanka Circular on Electronic Filing System for Unit Trust Monthly Returns
The Securities and Exchange Commission of Sri Lanka issued Circular SUP/04/11/2013 to mandate the implementation of an Electronic Filing System for monthly fund returns. Unit Trust Managing Companies and Trustees must submit data through a three-tier approval workflow by the 10th of the following month to replace hard copy submissions. Recipients are required to provide email addresses for designated officials to receive login credentials for the new system.
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[Logo of Securities and Exchange Commission of Sri Lanka]
BY HAND CIRCULAR NO: SUP/04/11/2013
4th November 2013
To : All Chief Executive Officers of Unit Trust Managing Companies & Trustees of Unit Trusts
Dear Sir/Madam
ELECTRONIC FILING SYSTEM
The Securities and Exchange Commission of Sri Lanka (SEC) is in the process of implementing an Electronic Filing System for submission of monthly fund returns to improve the efficiency and effectiveness of offsite supervision.
Accordingly, the company's monthly fund returns are required to be entered into the system on or before 10th of following month and be submitted to the SEC for planning to discontinue the submission of hard copies of monthly fund returns after a satisfactory parallel run of the system.
The system has been designed with three user levels. First user will enter the data to the system and submit to the CEO/Fund Manager for approval. CEO /Fund Manager will approve the financial information and submit to Trustee for final approval. The Trustees of Unit Trust Funds are required to approve the statements and submit to the SEC.
The relevant user names and passwords for logging into the system by the Data Entry Operator, CEO/Fund Manager and Trustee will be mailed upon receipt of their email addresses.
Therefore, please send the email addresses of above officials for furnishing their username and passwords for logging into the E-filing system as per the format given below. A soft copy can be mailed to; gayathri@sec.gov.lk or aeshini@sec.gov.lk
| User Level | Name of the Official | Designation | Email address. |
|---|---|---|---|
| 1. Data Entry | |||
| 2. Approval Level of the Unit Trust Managing Company | |||
| 3. Approval Level of the Trustee** |
**Applicable only for Trustees
We seek your kind co-operation to make this endeavour a success.
Thanking you.
Yours faithfully,
[Signature]
S. Fernando (Ms.) Director Supervision
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