CEO, MD Taprobane Securities suspended - SEC

A media release issued by the Securities and Exchange Commission(SEC) stated that the SEC had issued a directive dated May 23 to the Chairman and Board of Directors of Taprobane, Securites (Pvt) Ltd to suspend with immediate effect CEO and Managing Director of Taprobane Securites (Pvt) Ltd, Dinal Wijemanne from functioning in that capacity or in any other capacity for and on behalf of the Company pending the conclusion of investigations by the SEC.

This decision was taken by the Commission at a meeting held on May 22 as an interim measure conducive to the continuation of investigations launched by the SEC into the activities of the role played by the Stockbroker - Taprobane Securities (Pvt) Ltd and its CEO and Managing Director, Dinal Wijemanne in respect of the transaction of The Finance PLC shares by National Savings Bank (NSB) through the Stockbroker firm Taprobane Securities (Pvt)Ltd on April 27, 2012.