By Imsha Iqbal
Cabinet approval was granted on Monday (20) to call for proposals as a direct procurement from the Millennium IT Software (Pvt.) Ltd. in order to modernise the surveillance system of the Securities and Exchange Commission (SEC) of Sri Lanka.
The surveillance system that is currently in use by the SEC was initially established in 2008 and it was installed by Millennium IT Software (Pvt.) Ltd.
The requirement for the establishment of a modern and updated surveillance system was in order to suit the current activities of the SEC.
This is to be funded by the World Bank-funded Financial Sector Modernisation Project.
The proposal was presented by Prime Minister Ranil Wickrememsinghe in his capacity as the Minister of Finance, Economic Stabilisation, and National Policies.
Millennium IT Software is a ISO/IEC 20000 certified as an IT Service Management System supporting the provision of support services for the Capital Market software applications and hardware infrastructure by DNV, UK.