Independence in decision-making and effective regulation of the stock market and securities market should be the main priorities of the Securities and Exchange Commission of Sri Lanka (SEC). This is stated in the report on the implementation by Sri Lanka of the international principles of the work of the International Organization of Securities Commissions (IOSCO), the main task of which is to coordinate cooperation between the commissions of securities from different countries to ensure more effective state regulation of national securities markets. IOSCO prepares such a report each year on the basis of the research of the securities markets of different countries.
The report also states that the SEC should clearly understand its powers, correctly apply the rules of international law in its activities, and to be guided by global principles of work.
The International Securities Commission in its report provided Sri Lanka with recommendations for improving the situation in the securities market through its regulator. Thus, the country is advised to pay maximum attention to risk management, staff development, regulatory standards improvement and liability for their violation, expansion of communications, and internal and external audit issues.