SEBON slaps a fine of Rs 75 thousand on Pragyan Securities; finds guilty on leaking of sensitive information about Civil Bank

Securities Board of Nepal (SEBON) has slapped a fine of Rs 75 thousand to Pragyan Securities Pvt. Ltd. (broker number 10). Earlier, a complaint was filed at SEBON claiming that the head of Biratnagar branch of Pragyan Securities had issued a sensitive information through the Viber group urging the investors in the circle to purchase the shares of Civil Bank Limited so as to grab 40% right shares before the AGM of bank. The investigation of the SEBON team has found that the broker office had failed to supervise the working of its Biratnagar branch and simultaneously failed to enforce professional ethics among its employees. Consequently, Pragyan Securities has been penalized as per the clause 101 of Secutities Act 2073. Issuing the press statement, the market regulating body informed that its acts of regular market monitoring and penalization of wrong doers are intended towards promoting professionalism among all the stakeholders involved in the share market and to foster more sustainable and healthy environment in share market.