KATHMANDU: The Finance Committee of the House of Representatives (HoR) has directed the Securities Board of Nepal (SEBON) and Nepal Stock Exchange (NEPSE) to stop the manipulation in the secondary market of securities. <\/p>\n
A meeting of the Finance Committee held this morning directed SEBON and NEPSE to stop the activities of buying and selling in the secondary market of securities in collusion, creating artificial scarcity by controlling supply or creating artificial demand price and selling at high prices. The committee has directed to take immediate action against the person or company involved in intensive monitoring and monitoring of such activities. <\/p>\n
The committee has directed SEBON to grant approval on the basis of capital adequacy, net worth, balance sheet, returns, etc., before allowing the IPO of the company. The committee has also directed the shareholders to review the shareholding arrangements. <\/p>\n
The committee concluded that the Nepse online trading system has been disrupted from time to time in technology and data systems, which has also caused a loss to the revenue of the investors and the government. Therefore, the committee has directed the Ministry of Finance, as well as SEBON and NEPSE to expedite the restructuring work of NEPSE and upgrade the technology and ensure the highest level of cyber security. <\/p>\n
Likewise, the committee has directed the Ministry of Finance to expedite the process to fill the vacant posts of CEO of NEPSE and CDSC as the posts have been lying vacant for long. <\/p>\n
The committee has also directed the Ministry of Finance and SEBON to formulate a new bill on securities to clarify the roles, responsibilities and accountability of SEBON, NEPSE and CDSC for the purpose of making Nepal’s capital market a modern, technology-friendly, systematic, transparent, trustworthy and investment-friendly environment.<\/p>\n","protected":false},"excerpt":{"rendered":"
KATHMANDU: The Finance Committee of the House of Representatives (HoR) has directed the Securities Board of Nepal (SEBON) and Nepal Stock Exchange (NEPSE) to stop the manipulation in the secondary market of securities. A meeting of the Finance Committee held this morning directed SEBON and NEPSE to stop the activities of buying and selling in […]<\/p>\n","protected":false},"author":16,"featured_media":316278,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[45031,45159,45180],"tags":[],"class_list":["post-317877","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banner-news-en","category-news-en","category-stockmarket-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/317877","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/comments?post=317877"}],"version-history":[{"count":1,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/317877\/revisions"}],"predecessor-version":[{"id":317878,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/317877\/revisions\/317878"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media\/316278"}],"wp:attachment":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media?parent=317877"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/categories?post=317877"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/tags?post=317877"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}