SEBON directs NEPSE to report back on 8 issues with 7 days; Issues include Investors protection fund, bank broker license, market dealer and so on

Securities Board of Nepal (SEBON) has instructed Nepal Stock Exchange (NEPSE) to submit a report regarding providing broker license to banks within 7 days. SEBON has clarification and progress report on 8 points listed below:

1. Regarding providing broker license to banks fulfilling the criteria under federal structure.
2. Regarding establishment of Investors Protection Fund and improvement in existing legal facilities for the protection of investors
3. Regarding nomination of Employees Provident fund, Citizen Investment Trust and Social Security Fund as market dealers
4. Regarding upgradation of OTC market
5. Regarding improvement in NOTS based on the report prepared by SEBON
6. Regarding inclusion of criteria under system audit
7. Regarding dematerialization of small-scale investors who still have materialized shares
8. Regarding supervisory framework preparation and implementation for stock brokers