Nov 02, Colombo: The Director General of the Securities and Exchange Commission (SEC) of Sri Lanka, Malik Cader has been appointed as senior advisor to Capital Markets Division at the Finance Ministry, the Treasury Secretary said on Wednesday.
Cader is expected to take up his new assignment next week.
The official has been under criticism for his restrictions on credit trading in the SEC and the brokers blame his actions for the decline in Colombo bourse. The SEC has been taking measures to stop political manipulation of the share market at the Colombo Stock Exchange.
Indices at CSE climbed over 3 percent in early trade on Wednesday on the speculation of Cader’s transfer, Reuters reported.