SEBON warns so-called influential individuals and investor groups; warns to take punitive action if found suggesting which scrip to choose or discard via mass and social media

Securities Exchange Board of Nepal (SEBON) has finally risen out of its deep slumber warning the so-called big and influential investors, some media outlets, and their operators/presenters not to make public statements via their mass media and social media which could disturb the operation of NEPSE as the free market-driven stock market.

The notice from the market regulator has come against the background that some so-called influential individuals/group of individuals of sharemarket repeatedly kept on suggesting which scrips to buy and which not to buy via mass media and social media with an aim to violate the free market principle of the share market, as per the media statement.

The board has also warned that such an individual/group of individuals will be punished under the Securities Act 2063 if found violating this circular in the coming days.