NEPSE starts work to distribute new broker license; License to be distributed as per federal structure

Fri, Dec 14, 2018 8:13 AM on Latest, Stock Market,

Nepal Stock Exchange (NEPSE) has been working on a procedure to distribute Securities Brokers license as per the federal structure.

SEBON had directed the stock exchange to develop the necessary procedures to distribute license as per the federal structure on Mangsir 17, 2075. As per the direction, the financially strong districts are to be provided with the permission to open broker office.

The procedure will address the technical and material requirements of the brokers. Similarly, the procedure will also address the business plan and manpower for the broker business. The rights and duties of the brokers will also be clearly mentioned in the procedure.

The monetary policy has also provided permission to the banks to work as brokers which will require them to establish a new company. With the declining situation of stock market in the country, the banks have shown no interest in the establishment of new company. Only NIC Asia has only applied in the Rastra Bank for permission to work as a stock broker.