Amendment to Reinstatement Requirements for Investment Advisors

.^, Ei-E nfir r I I / ISECURITIESANDEXCHANGE \ }- q t ill,i,iliisror.r oF sRr LANKA \J/ d- -d I --" € eca: ed@O Ett E6OG oaEod oot0 gildroo0 Ooouriooi @Do@ ufldi6Som egom6l5gr BY HAND 10 July 2020 Mr. Rajeeva Bandaranaike Chief Executive Officer Colombo Stock Exchange #04-0L, West Tower World Trade Center Colombo 1 Dear Mr, Bandaranaike, REF: SEC/ER&CME/2020 I 07 I LO RE-TNSTAJEMENT OF INVESTMENJ ADVTSgRS (rA) The Securities and Exchange Commission of Sri Lanka (SEC) writes in reference to a Regulatory Committee decision taken to amend the existing re-instatement requirement of Investment Advisors. The amendment is annexed for your information and you are kindly requested to circulate amongst all licensed stock brokers. Yours sincerely, Chinthaka Mendis DIRECTOR GENERAL sp/sb Encl: Circular dated 10 July 2020 ref. SEC/ER&CME12020107109 28 6(' 29 0@. 0.00060 aO6 oeia @9q,006dD66 05€d @@6, oolso 0.l. 28 DoDrb 29 qgrb DtrB, Ld6 oirirE6 o@u!b dx9B6 Gcrq46, dEedei cEIB6[) OEr(Bdr{ 01. Level 28 & 29, East Tower World Trade Center Echelon Square, Colombo 0 l, Sri Lanka.

qi-{ F *, __. l:t'#,fi"15tft-3,:xfll,tff '-/ Il- -d I -- (a) (b) € @orol 6d@d 6tD 0600 oro)Ood 6o:0 Bodo6ir rlloqudteoi ofgo uflofpgoo :goadgqg BY HAND Ref: sEC/ER&CME/2020 I 07 I 09 10 July 2020 COLOMBO STOCK EXCHANGE ALL LICENSED STOCK BROKERS The SEC writes pursuant to a Regulatory Committee decision taken to amend the existing re￾instatement requirement of Investment Advisors' Existing CPD requirement As per SEC Circular no. OB/2009 dated 13th October 2009 and SEC Directive ref: no. SEC/CME-r/2018/121103 dated 18th December 2018, all IAs are required to earn four (4) cPD credits mandatorily during their licensing year. Re-instatement requi.rement due to non-com pliance Investment advisors, whose license has expired due to non-compliance with CPD requirement for two (2) or more years at the time of reques! are obligated to fulfill following extended requiremenb in order to renew their RIA status. IAs with continuous industry experience over 10 years with a proven track record The IAs will be re-instated when formally requested by the relevant stock broking company subsequent to passing a RIA VIVE VOCE Examination subject to such individuals earning a minimum of four (4) CPD seminar credits within a period of one year. IAs with continuous industry experience between 5 to 10 years with a proven track record The IAs will be re-instated when formally requested by the relevant stock broking company subsequent to passing a RIA VIVE VOCE Examination subject to such individuals earning a minimum of four (4) CPD seminar credits and pass a re-licensing examination within a period of one year' To: 28 6{0 29 060. o.aoo66 4Oo oojD @gq,0edD66 0@ 0q0€6, oo)so 01. 28 @ti@utb 29 eS6 Dtrq, roa oft5pa oou6 dpB6 Gctrqrrb, o&eoei e5t6ab O6tr(qrirt 01. Level 28 & 29, East Tower World Tmde Center Echelon Square, Colombo 01, Sri Lanka.

i S f Cl:m'n:lrtx:1ltlffii Continuation Sheet (c)IAswithcontinuousindustryexperiencelessthan5yearswithaproven track record notactasanlAinthesecuritiesindustrythatcomesunderthepurviewoftheSEC Prior to renewing their RIA' such IAs should pass a RIA VIVA VOCE Examination and a re-licensing examination' The relevant stock broking .o*punir-n-orra ir,un formally request the reinstatement' within a period of one year IA should also earn a minimum of four (4) CPD seminar credits. :, (d) IAs of seParate asset classes AbovestatedrequirementswillbeapplicabletolAsofseparateassetclasses. DIRECTOR GENERAL Sp/sb e Chinthaka Mendis