Kathmandu. The Finance Committee under the House of Representatives has directed the Ministry of Finance and the Securities Board of Nepal (SEBON) to formulate laws from restructuring of the Nepal Stock Exchange (NEPSE) to controlling insider trading. The committee has directed to expedite the restructuring of NEPSE.

The committee has directed to upgrade the technology, saying that the revenue of investors and the government has also been affected due to problems in Nepse’s online trading system (NOTS) and data system from time to time. In addition, the Ministry of Finance, SEBON and NEPSE have been asked to make necessary arrangements to further strengthen the cyber security of the online trading system.

Similarly, the committee has also directed to control various types of manipulations taking place in the secondary market of securities. The committee has directed SEBON and NEPSE to effectively monitor and monitor activities such as cornering, circular trading and pump-and-dump activities that create artificial scarcity by controlling supply and artificially increasing demand and prices.

The committee has also directed to take immediate action against the person or company involved in such illegal and market-affecting activities. The committee has also asked the concerned authorities to pay attention to making necessary legal arrangements to control such activities.