Colombo Stock Exchange (CSE) in a notice to clients of Stock Broker firms said that it had prohibited carrying out trading activities of 4 firms due to non-compliance with rule 5.1.1. and 5.2.1 of the CSE Stock Broker rules.

Accordingly renown Investment Banker and former CSE Director (2013) Asanga Seneviratne owned Nation Lanka Equities, former Ceylinco Money Broker turned investor - Harsha De Silva owned Navara Securities, Malaysian Investor and Politician - Tiong King Sing owned TKS Securities and Mackwoods Group owned Claridge Stock Brokers had been prohibited from trading activities effective 17^th April 2018 due to Non Compliance with minimum shareholders' funds requirement. Further it was noted that Nation Lanka Equities and Navara Securities had been Non Compliance with Minimum Capital Adequacy Requirements effective from 9^th October 2017 and 22^nd March 2018 respectively.

CSE said that the prohibited broker firms will be permitted to resume all trading activities no sooner the said firms comply with the Minimum Capital Adequacy Requirements and Minimum Shareholders' Funds Requirement as applicable. Meanwhile clients were informed by the notice to transfer their securities portfolios to any other stock broker firm custodian bank of their choice are kindly requested to contact the respective stock broker firms.