Clamour for credit and indirect pressure exerted to
stop investigations have been the main demands of the so called ‘stock
market mafia’ existent on the Colombo Bourse, says Tilak Karunaratne,
who tendered his resignation as the Chairman of the Securities and
Exchange Commission (SEC) on Friday. Reluctantly stepping down barely
nine months after taking over the position, the former Chairman said
that he had tried to fast track investigations into market malpractices
under his tenure so as to bring sanity to what he described as ‘a wild
market where some people were shooting from the hip’.
In what could
be his first interview with
The Nation Gain following his resignation,
Karunaratne explains the sequence of events that led him to call it a
day and his expressions showed that his main disappointment was that he
could not effectively take some of those real perpetrators of the
Colombo’s Stock Market to task.
