Stock investors on margins to get relief till end-June
Sri Lanka, April 1 -- The Securities and Exchange Commission (SEC) yesterday asked brokers and margin providers to refrain from charging interest and to provide a moratorium for the investors who have purchased stocks on margin facilities.
In a letter addressed to the Colombo Stock Exchange and all stockbrokers, the securities market watchdog said such moratorium on equities investors would be applicable from March 11 to June 30, 2020 or until a date which the regulator deems appropriate.
"The Securities and Exchange Commission of Sri Lanka taking into consideration the impact caused to investors as a result of the drop in valuations of listed securities on or about March 11, 2020, has decided to grant a moratorium to the clients of all...
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