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Friday, 12 January 2018 - 8:14
Central Bank initiates regulatory actions against PTL
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The Central Bank says regulatory actions have already been initiated against the Perpetual Treasuries Limited, which is accused of playing a major part in illegal bond dealings by the report of the Presidential Commission of Inquiry that investigated the Central Bank bond scam.
 
The CBSL said that based on the supervisory concerns and non-compliances identified in the on-site examination report of Perpetual Treasuries Limited and other investigations, the Monetary Board issued Directions to PTL on 07/11/2016 curtailing their levels of operation in the primary and secondary market and preventing the alienation of funds.
 
Based on continuing investigations, further Directions have since been issued from time to time and as of now their business activities are suspended and PTL are prevented from the disposal of assets, distribution of profits and making payments without the prior approval of CBSL, the regulator said.
 
The Directions are in force until 6th July 2018.
 
The CBSL has also frozen the assets of PTL held with CBSL and has informed the Securities and Exchange Commission to take appropriate action with regard to assets of PTL coming under its purview.
 
Central Bank discloses details issuing a media communique after it received the Bond report from the Secretary of President.

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