Securities Board of Nepal Independent Employees' Organization Urges Integrity and Autonomy Amidst Allegations

Sat, Dec 2, 2023 10:05 PM on Latest,

The Securities Board of Nepal Independent Employees' Organization, representing professionals within the Securities Board of Nepal (SEBON), has expressed deep concerns in response to recent media reports that have allegedly tarnished the reputation of the board and its leadership. Emphasizing SEBON's vital role in safeguarding investor rights and maintaining market transparency, the organization underscores its self-governing status established by the Securities Act issued by the Government of Nepal.

Expressing unease at the lack of a clear response from the board and its leadership amidst various news reports, the organization is troubled by allegations of business interest group dominance during a period of continuous market decline and overall economic dissatisfaction.

Acknowledging the prevalence of conflicting news regarding public issues and securities authorization, the organization notes the resulting atmosphere of fear and panic among dedicated employees, contributing to a challenging working environment. The continuous scrutiny of the board's activities by constitutional organs and parliamentary committees has further heightened distress.

Expressing deep sadness at these developments, the Nepal Securities Board Independent Employees' Organization aims to protect the board from undue influence by commercial interest groups and appeals to all stakeholders to safeguard the professional rights and interests of board employees.

In a strong statement, the organization demands the preservation of the dignity and autonomy of the Nepal Securities Board. To address concerns and allegations, they call for a thorough investigation via a comprehensive capital market cleansing campaign.

The Nepal Securities Board Independent Employees' Organization remains committed to upholding the integrity of the capital market, ensuring investor protection, and maintaining the autonomy and professionalism of the board amidst these challenging times.