Securities and Exchange Commission (SEC) Director General (DG) Vajira Wijegunawardane has been removed from the post with immediate effect.

Wijegunawardane was appointed the Director-General in April 2015 and was an investment analyst and fund manager for 10 years before joining the SEC.

Meanwhile, SEC Director – Chinthaka Mendis is set to assume duties as the new DG, Ada Derana reports.