The Monetary Board of the Central Bank has suspended NatWealth Securities Limited from carrying out its business activities,CB announced.
This decision was taken by the Monetary Board at its meeting held on Thursday 30 having considered the continuous failure to comply with directions applicable to primary dealers for a period of six months with effect from 4.30 p.m .today Friday 31
The suspension order issued in terms of the Regulations made under the Registered Stocks and Securities Ordinance and the Local Treasury Bills Ordinance,
The CBwill take necessary measures to ensure that this regulatory action does not have a disruptive impact on the Government Securities market.
Action will also be taken to facilitate the handling of the interests of the customers and counterparties of NWSL in an orderly manner.
NatWealth Securities Limited is a fully owned subsidiary of National Wealth Corporation Limited established under the Mahapola Trust Fund for the welfare of higher education students.
(LI)