Securities and Exchange Commission (SEC) Director General (DG) Vajira Wijegunawardane, appointed in 2015 with an overall service to the SEC for 13 years has been removed from the post with immediate effect.
The decision to remove Wijegunawardane was by the Commissioners of the SEC.
SEC Director Litigation Chinthaka Mendis has been appointed as the DG.
As per the SEC Act the DG is appointed by the Finance Minister on the recommendation of the Commission. When the DG post becomes vacant it must be advertised and only an acting appointment can be made or alternatively an Officer-in-Charge.