Investors Shut Down SEBON Meeting, Demanding Instant Rescue Plan for Falling Market

The Securities Board of Nepal (SEBON) had invited stock brokers to its office for a midday discussion to gather feedback on a new recovery plan aimed at stabilizing the struggling market today but frustrated by a continuous decline in the stock market, share investors gathered outside the central office of the Securities Board of Nepal (SEBON) in the morning around 9 am  to launch a formal protest, led by prominent investor and activist Tilak Koirala which is ongoing outside of the SEBON building. 

According to Sagar Dhakal, the president of the Stock Brokers Association of Nepal, the regulator is currently drafting policy changes to address recent market struggles and wanted input from the brokers therefore the meeting was called today by SEBON.

However, the meeting was quickly derailed by a crowd of frustrated retail investors who have been staging a protest outside the regulator's gates. Reacting to the heavy drop in share values, the protesters have demanded a immediate "rescue plan" from the government and Regulators rather than just meetings and paperwork. In previous week SEBON published the notice saying that they will publish the capital market road map to enhance NEPSE and boost market dynamics.

The protesting group expressed anger that regulators were holding closed door discussions with brokers while everyday investors were left out in the cold. Tilak Koirala, a prominent activist leading the protest, argued that it is deeply unfair for brokers to hold negotiations inside while thousands of investor are watching their life savings evaporate on the streets. He warned that protesters would physically block any broker representative trying to enter the building for discussion. The meeting was scheduled at 2 pm today.