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Finance Committee directs bodies concerned to protect maximum interest of investors

{{TAG_OPEN_div_25}Kathmandu. The Finance Committee under the House of Representatives has directed the bodies concerned to make Nepal’s capital market modern technology-friendly, systematic, transparent, reliable and investment-friendly and to protect the maximum interest of the investors by issuing securities.

The meeting of the Committee held in Singha Durbar today directed the Government of Nepal, the Ministry of Finance and the Securities Board of Nepal to immediately table a new bill related to securities in the federal parliament by clarifying the roles, responsibilities and accountability of the Securities Board of Nepal (SEBON), Nepal Stock Exchange Limited and CDS & Clearing Limited.TAG_OPEN_div_23

Chairman of the committee Dr Krishna Hari Budhathoki said that the meeting of the committee has directed the Securities Board of Nepal (SEBON) to review the provisions related to the ownership of the shares of the company by grading and prioritizing the capital adequacy of the company, technology, net worth and balance sheet return before granting permission for the IPO issuance.TAG_OPEN_div_21

The meeting of TAG_OPEN_div_19 the committee has directed the Government of Nepal, the Ministry of Finance, the Securities Board of Nepal and Nepal Stock Access Limited (NEPSE) to upgrade the technology as well as cyber security due to the disruption in the NEPSE online trading system, technology and data system from time to time.

Similarly, the meeting of the committee has also directed the government to stop the trading of secondary securities in the secondary market, creating artificial shortage by controlling the supply or selling at high price by creating artificial demand/price.TAG_OPEN_div_17

The Securities Board of Nepal (SEBON) and Nepal Stock Exchange Limited (NEPSE) have been directed to carry out intensive monitoring and monitoring of the issues related to the securities market and take immediate action against the person or company involved.TAG_OPEN_div_15

Similarly, the government has decided to direct the Ministry of Finance to immediately forward the process of filling up the posts of Chief Executive Officers (CEOs) of Nepal Stock Exchange Limited (NEPSE) and CDS and Clearing Limited.TAG_OPEN_div_13

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