Regulatory Alerts2013-12-12
Adoption of Code of Best Practices on Related Party Transactions
The Securities and Exchange Commission of Sri Lanka directed the Colombo Stock Exchange to adopt the Code of Best Practices on Related Party Transactions to regulate corporate disclosures. Public listed companies must voluntarily implement the Code starting January 1, 2014, with mandatory adoption required by January 1, 2016. Upon full implementation, existing listing rules regarding related party transaction disclosures are repealed to align with the new code.
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