SEBON implements Anti Money Laundering manual targeting stockbrokers; aims to discourage money laundering practices in the Nepalese stock market

Securities Exchange Board of Nepal has implemented the Anti Money Laundering Manual targeted at the stockbrokers effective from Ashoj 15, 2077.

As per the media release, the board has made arrangement to implement the following provisions:

*Safety Rating for the stockbrokers will be performed on a rating scale of 1-5

*Qualitative and quantitative research will be conducted to determine risk factors associated with stockbrokers

*Possible risk factors include risk related to customers, geographical location, influential figures, distribution channel, the organizational structure of the stockbrokers,