The Bill was presented by Chief Government Whip Minister Gayantha Karunathilaka.

The Securities and Exchange Commission of Sri Lanka will regulate market institutions, public offers of securities, market intermediaries; to deal with market misconduct; and to meet the challenges encountered by securities markets in an effective and efficient manner.

The commission, which will be appointed by the subject minister, will include a majority of six members from the private sector.

The deputy secretary to the treasury, deputy governor of the Central Bank, a fellow member of the Institute of Chartered Accountants of Sri Lanka and the Registrar General of Companies will make up the remaining four members of the commission.