16 Broker Companies Receive Letters of Intent (LOI) for New Broker License

16 companies who submitted applications for new brokers have already obtained letters of intent.

The Securities Market Operation Regulations 2064 and the Securities Dealers Regulations 2064 revised by SEBON begin the process of awarding new licenses. The Securities Board released a notice on Ashwin 2, 2079 with a 30-day deadline in order to carry it out. As a result, 45 companies submitted applications for stock broker licenses, while one company applied for a stock dealer license. Likewise, the Securities Board recently issued Letters of Intent (LOI) to 16 new broker companies who had submitted license applications.

16 companies received letters of intent at the board of directors meeting on Monday morning, according to Mukti Nath Shrestha, spokesperson for SEBON (Securities Board of Nepal). Accordingly, the remaining companies that have submitted broker applications to the board are being investigated.

After the board issues the new broker company with a letter of intent, the companies are required to set up their infrastructure in accordance with the board-established standards. Following infrastructure preparation, Sebon will monitor and the company will be granted a license if the requirements are met during monitoring.

List of 16 Companies that received LOI: