Latest Cabinet Decisions highlights that a new draft bill has been presented in Parliament to update the existing Securities Exchange Bill.

Accordingly, the proposal made by Mangala Samaraweera, the Minister of Finance to amend the Securities Exchange Bill incorporating amendments with regard to correcting errata needed for effective capital market regulation and to increase the accountability of the Securities and Exchange Commission whilst retaining its enhanced independence, into existing draft bill taking into consideration the further views expressed by those who are interested in that regard, was approved by the Cabinet.