By Harsha de Silva We understand that the Securities and Exchange Commission (SEC) is planning to compound undisclosed securities fraud by some billionaire investors. Media reports have begun to circulate that Environmental Resources Investments (ERI) and its Directors have agreed with the SEC to pay an insignificant fine of Rs. 10 million and compound an ...

Sri Lanka Insurance Corporation (SLIC) has sold 3.4% stake in DFCC Bank to Employees Provident Fund (EPF) for Rs. 1.2 billion. Of the amount 7.9 million shares were sold Tuesday at Rs. 135 each whilst on Monday 1.24 million shares were sold at the same price. Monday’s sale was the entire