SBAN Responds To Warnings of TMS Closures from Dissenting Investors

The Stock Brokers' Association Of Nepal (SBAN) has responded to threats by agitating protestors with regard to new taxation arrangements in the recently announced fiscal budget.

In a press release issued by SBAN, it stated that it had come to the attention of the association that some investors are dissatisfied with new arrangements proposed in the Economic Bill, 2080.

The Association added that, it has been understood that earlier attempts were made by protesting investors to shut down Trading Management Services (TMS) by visiting several brokerage houses. Similarly, vehement warnings have been made by protestors against brokerage houses asking them to remain non-functional in wake of continued protests from dissatisfied investors.

SBAN has requested concerned officials and stakeholders to facilitate a safe environment for brokerage houses and their staffers to extend their services smoothly and uninterruptedly.

Lastly, SBAN stated that as the share market is very sensitive prior to making any changes in the existing laws and regulations that may explicitly or implicitly affect the market, it is important that pre-discussions are held with all concerned officials and stakeholders in the best interest of the investor and the capital market.

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Read press release here: