Central Bank suspends activities of Perpetual Treasuries for six months
Posted on July 6th, 2017

Courtesy The Daily Mirror

The Monetary Board had suspended Perpetual Treasuries Limited (PTL) from carrying on business and other activities as a Primary Dealer for six months with effect from today, the Central Bank said in a statement.

It said that the SLCB had decided to suspend the activities of the said firm acting in terms of the Regulations made under the Registered Stocks and Securities Ordinance and the Local Treasury Bills Ordinance.

The Central Bank will take necessary measures to ensure that this regulatory action does not have a disruptive impact on the market,” the statement said.

The CB said that action would also be taken to facilitate the handling of the interests of the customers and counterparties of PTL in an orderly manner.

2017-07-06 17:06:39 4 1225 The Monetary Board had suspended Perpetual Treasuries Limited (PTL) from carrying on business and other activities as a Primary Dealer for six months with effect from today, the Central Bank said in a statement. It said that the SLCB had decided to suspend the activities of the said firm acting in terms of the Regulations made under the Registered Stocks and Securities Ordinance and the Local Treasury Bills Ordinance. The Central Bank will take necessary measures to ensure that this regulatory action does not have a disruptive impact on the market,” the statement said. The CB said that action would also be taken to facilitate the handling of the interests of the customers and counterparties of PTL in an orderly manner.

4 Responses to “Central Bank suspends activities of Perpetual Treasuries for six months”

  1. Ananda-USA Says:

    NOT ENOUGH PUNISHMENT and MUCH TOO LATE!

    This is SHUTTING THE BARN DOOR after THE HORSE HAS BEEN STOLEN!

    The Yamapalanaya MUST BE HELD ACCOUNTABLE for this LACK OF ATTENTION TO ITS DUTY to PRESERVE & PROTECT Sri Lanka’s FINANCES!

    UNPATRIOTIC BUNGLERS & COLLABORATORS in DAYLIGHT ROBBERY!

  2. Ratanapala Says:

    Suspending is just eye wash. Not enough. All activities of Perpetual Treasuries from the time it started business with the Central Bank should be investigated. There should be proper recompense to the nation and all perpetrators, their backers and collaborators should be exposed and dealt with the full force of law.

  3. Fran Diaz Says:

    Wot ! Only 6 months shut down of PT for shooting down the Public Financial System of the Country ?

    And what about the chief collaborators in the Scheme, viz RW & his nephew Arjuna Mahendran ? How come they seem to have got off Scot Free ?? !! Are they above the Law of the Land ?

  4. Senerath Says:

    ‘No issue for UNP if Rajapaksas came to power again’ – President

    – Jul 05, 2017

    “Prime minister Ranil Wickremesinghe or top members of the UNP will face no issue at all if the Rajapaksas came to power again”, an agitated president Maithripala Sirisena told the PM to his face at yesterday’s (04) cabinet meeting. But, the PM remained impassive as usual.

    Noting that he had taken a big risk by contesting the presidential election, the president said had he lost, the Rajapaksas had planned to imprison his son and son-in-law and kill him. His remarks came when the cabinet discussed if the Anti-Corruption Secretariat should continue after having completed its tenure on June 30. When the president asked as to who would account for the secretariat, the PM said he had nothing to do with that.

    Angered by his answer, the president said firmly, “the Attorney General’s Department is under you, police is under you, FCID is under you, CID is under you. But, none of the big thieves had been caught for the past one and a half years. Instead, cases have been filed against minions like provincial councilors and Pradeshiya Sabha members who support me. I know the politicians who speak to the FCID and the CID and influence them. They don’t know that all those calls get recorded. If you say no, I will get them to say so to your face. If you cannot do this, at least give me those institutions to me for three months. I will show what I can do.”

    Backing the president, Champika Ranawaka and Rajitha Senaratne said he was telling the complete truth. They alleged the AG’s Department was protecting the Rajapaksas. To that, justice minister Wijedasa Rajapakshe said he was helpless, as he would not interfere with it since the AG is appointed by the Constitutional Council. Sarath Fonseka said, “We cannot do this by keeping this justice minister. He does not know which side he is in. the biggest hurdle to ensure justice in the country is the justice minister.”

    However, the cabinet failed to decide on the future of the Anti-Corruption Secretariat. After a heated meeting, Rajitha Senaratne took the president and the PM upstairs and settled the matter. Both leaders agreed to his remark that if things went the way as they were now, all would be ruined, and asked what their choice would be. Accordingly, they decided to initiate court action with regard to 10 of the major charges within the next fortnight.

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