Finance Committee directs to protect best interests of investors
Summary
The House of Representatives’ Finance Committee has directed authorities to strengthen Nepal’s securities market, protect investors, and modernize trading systems. It also called for tougher action against market manipulation and urged quick appointments to vacant leadership posts at NEPSE and CDS and Clearing Limited.
Key Points
- The Finance Committee asked the Finance Ministry and SEBON to prepare a new securities bill clarifying the responsibilities of SEBON, NEPSE and CDS and Clearing Limited.
- It directed SEBON to prioritize companies for IPO approval based on capital adequacy, technology, net worth and balance-sheet performance.
- The committee urged upgrades to NEPSE’s online trading and data systems, along with stronger cyber security.
- It also called for action against cornering, circular trading, pump-and-dump schemes, and for filling vacant top posts at NEPSE and CDS and Clearing Limited.
