Share Investors Association Urges Protection for Assets After Broker No. 93 Suspension
Summary
The Share Investors Association has objected to NEPSE’s three-day suspension of Beni Securities, saying thousands of investors are affected and their assets need immediate protection. It has called for alternative trading arrangements, clearer safeguards for client funds and shares, and long-term reforms in broker settlement systems.
Key Points
- The Share Investors Association criticized NEPSE’s three-day suspension of Beni Securities, Broker No. 93, over delayed trade settlements.
- It said thousands of investors are now affected and there is no clear plan to protect their funds and shares.
- The association urged market authorities to restore trading for affected clients through alternative arrangements and punish only the responsible broker.
- It also called on NEPSE and CDSC to clarify the safety of client assets and introduce reforms such as separate client accounts and faster broker transfers.
