SEBON tries to clear doubtful air! Releases a list of initiatives to soothe investors towards its actions for market development

Tue, Nov 26, 2019 11:41 PM on Corporate, Latest,
SEBON trie...

Amid the slumping secondary market, Securities Board of Nepal has issued a list of the activities that it claims the board has and is currently undertaking for the further upgradation of Nepalese securities market. The board has claimed that it has

*Amended the regulation for the entry of stock dealer in order to manage the demand and supply chain of securities

*Initiated to bring insurance companies and other institutions formed under special acts as mutual fund managers

*Licensed 16 stock brokers to begin providing margin loans to the investors

*Facilitated in expansion of broker services in major cities of the nation

*Amended the securities allotment bylaws 2073 so that the shareholders can apply for upto 100% more right shares than they are actually authorized now

*Initiated the divestment plan of NRB’s ownership from Nepal Stock Exchange in order to make it more professional

*Enactment of Specialized Investment Fund 2075 so that venture capital and private equity fund can enter the market

*Formulated insider trading prevention bylaws 2076 and in stage of implementing the same