Suspension on Broker 7 (JF Securities) and Broker 22 (Siprabi Securities) lifted

ShareSansar, March 15:
 
Of the four brokers who had been suspended from conducting trading, Broker no. 7 (JF Securities) and Broker no. 22 (Siprabi Securities) have been allowed to resume trading.

The NEPSE’s decision to bar the four brokers had coincided with the news of fake share certificates that came to light recently.  

NEPSE had restricted Broker No. 6 (Agrawal Securties), Broker No. 7 (JF Securities), Broker No. 22 (Siprabi Securities), and Broker No. 56 (Sri Hari Securities) to execute trade on behalf of their citing ongoing enquiry on several factors.

A racket led by an investor, Govinda Ghimire, was found to be printing and circulating fake share certificates in the market.

“The only lapse on the broker’s part seems to be the failure to maintain KYC form,” said General Manager of Nepse Sitaram Thapaliya, adding, “The preliminary report on the issue will be submitted today.”

As per Thapaliya, action against culprit would depend on the seriousness of the crime, which will be determined only after the police complete their investigations. “The final report may take longer as the investigation might expand,” said Mr Thapaliya.