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Securities Board of India (SEBON) to end insider trading

नयाँ वित्तीय उपकरण थप्ने, आईपीओ प्रणाली, बुक बिल्डिङमा सुधार गर्ने 

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.  The Rastriya Swatantra Party (RSP) has secured nearly two-thirds majority in the House of Representatives election held on March 4.

With this, the government has been formed under the leadership of senior leader Balendra Shah.TAG_OPEN_div_55 This government will implement its promise after the formation of the government with two-thirds majority. The RSP had brought its promise letter before going for the election.

} The promissory note has brought a number of plans for capital market reform. The promise paper has also mentioned that the capital market would be made transparent, safe and investment-friendly. 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 service.TAG_OPEN_div_51 Similarly, NEPSE is 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 has also pledged to implement a zero-tolerance policy against insider trading and market manipulation and to reform the IPO system to ensure fair allocation, book building reforms and timely listing.TAG_OPEN_div_49

Similarly, the promissory note has a plan to make the capital market transparent, safe and investment-friendly.TAG_OPEN_div_47 Under this, a plan has been made to restructure the structure of the Securities Board by making necessary amendments to the Securities Act, 2063, to increase adequate manpower and capacity and to provide necessary autonomy. g.

There is a plan to restructure the Nepal Stock Exchange (NEPSE) and CDS and Clearing Limited to increase the participation of the private sector and develop competitive depository services.TAG_OPEN_div_43

{{TAG_OPEN_div_41} The party has come up with a plan to make the capital market tax policy stable and investment-friendly as well as activate government, local level and private sector bonds for the development of debt market and bond market. The party has also pledged to implement a 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_39 It has pledged to conduct a financial literacy campaign to protect the interests of small investors and to make an automated reporting system 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_37 ।

The responsibility of implementing this commitment is on Finance Minister Dr.TAG_OPEN_div_33 It is on the shoulders of Swarnim Wagle.  The Securities Act now protects insider trading companies rather than prosecutes them. The board is protecting insider trading in the interest of top management and some high-ranking officials.

} The Board has been protecting the internal transactions of Karodau by 2 directors including the chairman of Akhukhola Hydropower Company.

Similarly, the board has been protecting the illegal transactions of Rs 64 crore by the then chairman of Shivam Cement, Surendra Kumar Goel, rather than taking action against them.TAG_OPEN_div_29 Now, the government of the RSP will take action against such transactions. According to sources close to the board, Sebon is protecting many such transactions that are against the law.

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