The Securities & Exchange Commission of Sri Lanka (SEC) has directed the Colombo Stock Exchange (CSE) to lift the price constraints imposed on the Crossings Board for share transactions falling within the ambit of the Central Bank of Sri Lanka’s Financial Sector Consolidation Plan.

The SEC has decided to request companies seeking to benefit from this directive to apply to the Commission to determine whether the proposed share transactions fall within the ambit of the Financial Sector Consolidation Plan on a case to case basis.

This is under the Section 6.3 of the Automated Trading Rules for share transactions if requested by such companies and determined by the SEC.

This directive will be effective from 22 September 2014.