Parliamentary Committee Directs Reforms in Capital Market
Summary
The House of Representatives Finance Committee has directed the government and capital market regulators to speed up reforms in Nepal’s securities sector, including a new securities bill, stricter IPO oversight, and stronger action against market manipulation. It has also asked authorities to upgrade NEPSE’s system, improve cyber security, and immediately fill vacant CEO posts at NEPSE and CDS & Clearing.
Key Points
- The Finance Committee issued a five-point directive to the Ministry of Finance, SEBON, NEPSE, and CDS & Clearing to address policy, technical, and governance problems in the capital market.
- It asked the government and SEBON to draft a new securities bill and present it to the Federal Parliament immediately.
- The committee called for stricter IPO approval standards, review of promoter share provisions, and tougher monitoring of collusive trading and price manipulation.
- It also directed authorities to upgrade NEPSE’s trading system, strengthen cyber security, and fill vacant CEO positions without delay.
