<sod>Nalaka Godahewa’s appointment to SEC as Chairman took place at a time there were a number of controversies surrounding the [[Colombo Stock Exchange]]. During the last 12 months proceeding his appointment on 28 August 2012, two chairpersons of SEC had resigned due to public pressure following continuous decline in the overall market performance.<ref>Reuters News: [http://in.reuters.com/article/2012/08/28/srilanka-sec-idINL4E8JS3U720120828 Sri Lanka appoints tourism head as new SEC chief] h:Retrieved 7 September2012</ref> Once rated the Asia’s second best performing stock market in Asia the CSE had become Asia’s worst performing stock market by mid-2012. The SEC chairmanship became vacant on 17 Aug when Former Chairman of the Securities and Exchange Commission Tilak Karunaratne resigned, claiming he had come under pressure from market players being investigated for alleged stock market.<ref>Ada Derana : WebSite 17 August 2012: [http://www.adaderana.lk/news.php?nid=19275 Thilak Karunarate Submits Resignation]:Retrieved 8 September 2012</ref> On the other hand active investors pointed out that during Karunratne’s tenure the market performance got from bad to worst due to ad hoc decision making and excessive regulations. Same allegation was there for Karunaratne’s predecessor Indrani Sugathadasa, during whose short tenure the market crash actually started.<ref>The Island: (Print Edition 15 August 2012): [http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=59270 shady investors and crony brokers]:Retrieved 8 September2012</ref> Godahewa on the other hand was seen as a more market friendly regulator respected by both public sector and private sector<ref>[http://www.youtube.com/watch?v=2tpVyw4fck8 You Tube Video (Godahewa on MTV business chat)]:Retrieved on 13 June 2013</ref> and the market confidence was visible in the immediate turnaround of the market following his appointment.<ref>Daily FT: (Print edition 8 September 2012). [http://www.ft.lk/2012/09/08/bourse-ends-week-on-5-month-high/ Bourse ends week on 5-month high]: Retrieved 8 September2012</ref>  The new regulator assured  that all investigations would continue without interruption but promised a more strategic approach for regulation and market development.<ref>Sunday Observer: (Print edition 2 September 2012).[http://www.sundayobserver.lk/2012/09/02/fin03.asp SEC chief to proceed with investigations]: Retrieved 8 September 2012</ref>  Following the introduction of a 10-point action plan for market development,<ref>Daily FT 23 August 2013):[http://www.ft.lk/2013/08/23/leading-the-positive-change-in-finance/ Leading the positive Change in finance]:Retrieved on 23 August 2013</ref> the market bounced back once again<ref>Daily Mirror (Print Edition 13 June 2013):[http://www.dailymirror.lk/business/features/30812-SEC-Chief-explains-capital-markets-turnaround-strategy.html sec chief explains capital markets turnaround strategy]: Retrieved on 13 June 2013</ref> All Share Price Index (CSEASI) returned to 6500 mark in June 2013, one year after it hit the bottom.<ref>Daily FT (Print edition 27 May 2013): [http://www.ft.lk/2013/05/27/bourse-eyes-asi-surpassing-6500-points-level-as-net-inflows-reach-rs-13-b/ Bourse eyes ASI surpassing 6500 points level with net inflows reaching Rs 13Bn] : Retrieved on 30 May 2013</ref> In October 2013 Godahewa presented to the public the first year achievents at SEC which demonstrated that the implementation of the capital market development plan was on track.<ref>The Island ( Print edition 14 October 2013) :[http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=90146 The past, present and future of the securities market of Sri Lanka * Key Note Address by SEC Chairman Dr Nalaka Godahewa at the ‘Issuer Relations Forum’]: Retrieved on 15 November 2013</ref> When capital market vision 2020 was launched in January 2015 with a target of achieving USD 100 B the market performance had reached a peak with ASPI at 7500 plus and performing better than all regional and global indices.<ref>Daily News (print edition; 6 January 2015) : http://www.dailynews.lk/?q=business/foreign-inflows-positive-territory: Retrieved on 10 January 2015</ref> In January 2015, the Colombo Stock Exchange (CSE) was voted the "Most Sustainable Growth Exchange" in Asia, by the subscribers of the CIF Journal of UK, the World Bank, International Monetary Fund (IMF), Pacific Investment Management Company (PIMCO) and Fidelity Investments.<ref>Dailyness(print edition 2nd jan2015): [http://www.dailynews.lk/?q=business/cse-named-most-sustainable-growth-exchange-asia-2014 CSE named most sustainable growth exchange in asia]: Retrieved on 2 February 2015</ref><eod>
<sod>Nalaka Godahewa’s appointment to SEC as Chairman took place at a time there were a number of controversies surrounding the [[Colombo Stock Exchange]]. During the last 12 months proceeding his appointment on 28 August 2012, two chairpersons of SEC had resigned due to public pressure following continuous decline in the overall market performance.<ref>Reuters News: [http://in.reuters.com/article/2012/08/28/srilanka-sec-idINL4E8JS3U720120828 Sri Lanka appoints tourism head as new SEC chief] h:Retrieved 7 September 2012</ref> Once rated the Asia’s second best performing stock market in Asia the CSE had become Asia’s worst performing stock market by mid-2012. The SEC chairmanship became vacant on 17 Aug when Former Chairman of the Securities and Exchange Commission Tilak Karunaratne resigned, claiming he had come under pressure from market players being investigated for alleged stock market.<ref>Ada Derana : WebSite 17 August 2012: [http://www.adaderana.lk/news.php?nid=19275 Thilak Karunarate Submits Resignation]:Retrieved 8 September 2012</ref> On the other hand active investors pointed out that during Karunratne’s tenure the market performance got from bad to worst due to ad hoc decision making and excessive regulations. Same allegation was there for Karunaratne’s predecessor Indrani Sugathadasa, during whose short tenure the market crash actually started.<ref>The Island: (Print Edition 15 August 2012): [http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=59270 shady investors and crony brokers]:Retrieved 8 September 2012</ref> Godahewa on the other hand was seen as a more market friendly regulator respected by both public sector and private sector<ref>[http://www.youtube.com/watch?v=2tpVyw4fck8 You Tube Video (Godahewa on MTV business chat)]:Retrieved on 13 June 2013</ref> and the market confidence was visible in the immediate turnaround of the market following his appointment.<ref>Daily FT: (Print edition 8 September 2012). [http://www.ft.lk/2012/09/08/bourse-ends-week-on-5-month-high/ Bourse ends week on 5-month high]: Retrieved 8 September 2012</ref>  The new regulator assured  that all investigations would continue without interruption but promised a more strategic approach for regulation and market development.<ref>Sunday Observer: (Print edition 2 September 2012).[http://www.sundayobserver.lk/2012/09/02/fin03.asp SEC chief to proceed with investigations]: Retrieved 8 September 2012</ref>  Following the introduction of a 10-point action plan for market development,<ref>Daily FT 23 August 2013):[http://www.ft.lk/2013/08/23/leading-the-positive-change-in-finance/ Leading the positive Change in finance]:Retrieved on 23 August 2013</ref> the market bounced back once again<ref>Daily Mirror (Print Edition 13 June 2013):[http://www.dailymirror.lk/business/features/30812-SEC-Chief-explains-capital-markets-turnaround-strategy.html sec chief explains capital markets turnaround strategy]: Retrieved on 13 June 2013</ref> All Share Price Index (CSEASI) returned to 6500 mark in June 2013, one year after it hit the bottom.<ref>Daily FT (Print edition 27 May 2013): [http://www.ft.lk/2013/05/27/bourse-eyes-asi-surpassing-6500-points-level-as-net-inflows-reach-rs-13-b/ Bourse eyes ASI surpassing 6500 points level with net inflows reaching Rs 13Bn] : Retrieved on 30 May 2013</ref> In October 2013 Godahewa presented to the public the first year achievents at SEC which demonstrated that the implementation of the capital market development plan was on track.<ref>The Island ( Print edition 14 October 2013) :[http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=90146 The past, present and future of the securities market of Sri Lanka * Key Note Address by SEC Chairman Dr Nalaka Godahewa at the ‘Issuer Relations Forum’]: Retrieved on 15 November 2013</ref> When capital market vision 2020 was launched in January 2015 with a target of achieving USD 100 B the market performance had reached a peak with ASPI at 7500 plus and performing better than all regional and global indices.<ref>Daily News (print edition; 6 January 2015) : http://www.dailynews.lk/?q=business/foreign-inflows-positive-territory: Retrieved on 10 January 2015</ref> In January 2015, the Colombo Stock Exchange (CSE) was voted the "Most Sustainable Growth Exchange" in Asia, by the subscribers of the CIF Journal of UK, the World Bank, International Monetary Fund (IMF), Pacific Investment Management Company (PIMCO) and Fidelity Investments.<ref>Dailyness(print edition 2nd jan2015): [http://www.dailynews.lk/?q=business/cse-named-most-sustainable-growth-exchange-asia-2014 CSE named most sustainable growth exchange in asia]: Retrieved on 2 February 2015</ref><eod>