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End insider trading, improve book building process to boost investor morale

nabil bank
सुमित्रा कार्की

Kathmandu. The major political parties have released their manifestos for the upcoming elections to the House of Representatives. According to the manifesto, the parties have unveiled their agendas ranging from stopping insider trading to boosting the morale of investors.

} The parties have released a manifesto covering the new process introduced in the IPO issuance system, improvement in the book building process, etc. The parties are committed to expanding access to the public and private sector in the stock market.

In recent times, the Securities Board of Nepal (SEBON) has been protecting the insiders rather than bringing them under the purview of action.

The board has been protecting the illegal transactions of Rs 64 crore by the then chairman of Shivam Cement, Surendra Kumar Goyal, and the then chairman of Shivam Cement, Surendra Kumar Goyal.

In the manifesto made public by the Nepali Congress, it has been stated that a sophisticated monitoring system will be implemented to prevent insider trading and unnatural manipulation in the share market.TAG_OPEN_div_58 Similarly, the Nepali Congress has committed to make the ‘Investor Protection Fund’ effective for the benefit of small investors.

} The party will develop a separate SME platform for small and medium enterprises (SMEs) to enable them to raise capital from the market. Similarly, the Securities Board of Nepal (SEBON) will be fully autonomous and the Securities Board of Nepal (SEBON) will be made world-class by reforming the structure of NEPSE and CDSC. There is a plan to expand the stock market across the country by including stock market and financial management education in the curriculum from the school level.

For the purchase of 10 percent preference shares of hydropower companies for the project-affected locals, a policy arrangement will be made for the disadvantaged families concerned to pay them gradually from dividend.

There is also a plan to provide financial concessions and purchase of such shares to the Nepali citizen workers involved in the construction of the project.TAG_OPEN_div_52 Nepalis, Non-Resident Nepalis and the general public in foreign employment will be easily connected to the capital market through a mobile app.

The CPN-UML has released its manifesto for the upcoming elections.TAG_OPEN_div_50 The manifesto states that the capital market would be regulated, improved and expanded, mobilized self-capital and long-term loan for investment and the interests of the shareholders would be protected.

The Rastriya Swatantra Party (Rastriya Swatantra Party (RSP) has made public its commitment to make the capital market transparent, safe and investment-friendly.TAG_OPEN_div_48 The party has also expressed its commitment to restructure the Securities Board of Nepal (SEBON) structure by making necessary amendments to the Securities Act-2063 BS and ensure adequate human resources and autonomy.

According to the pledge, there is a plan to increase the participation of the private sector by restructuring NEPSE and CDS and Clearing Limited and develop competitive depository services.TAG_OPEN_div_46 Similarly, NEPSE has been set to make it an international standard by introducing intraday trading, short selling, futures, options and derivative financial instruments in a phased manner.

The party also pledged to implement a zero-tolerance policy against insider trading and market manipulation and reform the IPO system to ensure fair allocation, book building reforms and timely listing.TAG_OPEN_div_44

} Similarly, the promise has a plan to make the capital market transparent, safe and investment-friendly. Under this, a plan has been made to restructure the structure of the Securities Board of Nepal by making necessary amendments to the Securities Act, 2063, to increase adequate human resources and efficiency and to provide necessary autonomy.

There is a plan to increase the participation of the private sector by restructuring the Nepal Stock Exchange (NEPSE) and CDS and Clearing Limited and develop competitive depository services.TAG_OPEN_div_40

The party has come up with a plan to make the capital market tax policy stable and investment-friendly and activate government, local level and private sector bonds for the development of debt market and bond market.TAG_OPEN_div_38 The party has also pledged to implement an easy policy to facilitate the non-resident Nepali citizens to carry out transactions in NEPSE and to bring the commodity exchange market into operation at the earliest.

The capital market will be modernized and diversified by developing a variety of funds, derivatives markets, and risk management tools.TAG_OPEN_div_36 A financial literacy campaign will be launched to protect the interests of small investors and an automated reporting system will be made mandatory to ensure transparency in the financial statements of listed companies.

The RSP has a plan to make the capital market accessible to citizens and youths across the country through digital medium and to develop it as the real mirror of the country’s economy and the major basis for capital formation.TAG_OPEN_div_34 The Communist Party of Nepal (Maoist) in its manifesto has pledged to increase people’s access and participation in the capital market.

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