Kathmandu. Chairman of the Securities Board of Nepal Dr. Gopal Bhatta has claimed that he is ready to resolve the old problems even if an ordinance is brought if there is a delay in the formulation of the new Securities Act.

He made the claim during a meeting with a delegation of Nepal Share Market Investors Association on Monday.

He said that protection of investors’ rights and market transparency is his primary responsibility.

On the occasion, Association’s vice-president Bhagawan Bahadur Rawat complained that small investors’ savings were at risk due to fluctuations in the market in the current situation.

He stressed on the need to make the stock market a real medium to improve the country’s economy and not a small group of people.

During the discussion, the investor representatives asked why the regulatory body is silent about the market like insider trading, the game of artificially raising or decreasing the price and the false rumors spread through social media. He raised the question.

President Dr. Stating that he has already started the work, Bhatta urged the investors to invest only after understanding the real situation of the market. According to him, the board will further intensify investor awareness programs.

President Dr. Bhatta recalled that he had studied and advocated for a long time on the subject of short selling and intraday trading, and claimed that he would now implement it in practice. He assured that the necessary work for this is being done at a rapid pace and the investors will be able to use it soon.

He also pledged to enhance the internal infrastructure and structural capacity of the Board for the modernization of the market.

Rabin Kandel, general secretary of the association, said that the regulator should choose the path of strict regulation and action rather than just limited to assurances and announcements. He said although the white paper unveiled by the new leadership was positive, a clear timeline should be set for its implementation.

Investors have demanded that the new law should make officials responsible for irresponsible or wrong decisions and return unfair profits.

He expressed serious concern over the lack of representation of general investors in the various study and reform committees formed by the Board.

He suggested that the complaints raised in the market about the use of settlement system in T plus one and T plus two and the possible discrimination on small investors should be clarified.