Kathmandu. The Securities Board of Nepal (SEBI) has taken action against two broker companies with cash penalties. According to the Securities Board, Apple Securities and Benny Securities have been prosecuted with cash.

Sebon has imposed a fine of Rs 5,000 on Apple Securities Pvt Ltd as per sub-section (2) of Section 82 of the Securities Act, 2063 for not submitting the audited financial statements and financial statements of the fiscal year 2080/81 to the Board within the stipulated time in accordance with Sub-section (1) and (2) of Section 82 of the Securities Act, 2063.

Similarly, SEBON has taken action against Beni Securities for not submitting the audited financial statements and financial statements of the fiscal year 2080/81 within the stipulated time as per sub-sections (1) and (2) of Section 82 of the Securities Act, 2063. Sebon has imposed a fine of Rs 5,000 on Beni Securities as per sub-section (2) of Section 82 of the Securities Act, 2063 BS.