NEPSE Directs Insurers To Hold The Share Trading of Promoters and Top Officials

Kathmandu: Nepal Stock Exchange (NEPSE) has directed all the insurance companies, banks, and financial institutions to restrict the share trading of the board members(BODs) and high-level officials involved in crucial decision-making.

NEPSE has instructed all the insurance companies and BFIs to make sure that the share trading of all the members of BOD and their family members, executives (CEO, DCEO, CFOs, and CA’s involved in crucial decision making) have been restricted. It has been instructed to withhold the share trading in the secondary market with the support of CDS and Clearing House and report the same to NEPSE.

Currently, there are 17 general insurers listed in the Nepal Stock Exchange(NEPSE), and out of 19 life insurers, only 12 life insurers are listed in NEPSE. Out of the two reinsurers, only state-owned re-insurer Nepal Reinsurance is listed in NEPSE.

NEPSE has also requested to inform its same in writing to its office as soon as possible. NEPSE has taken such a move following the insider trading of Shivam Cement Limited and some BFIs.

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