Member of Parliament Lima Adhikari has questioned the Securities Board of Nepal for only starting an investigation into a massive share trading case after receiving a letter from the Department of Money Laundering Investigation.
During a meeting of the Finance Committee under House of Representatives, RSP MP Lima Adhikari raised serious questions. This discussion was focused on the activities of SEBON, stock market regulations, and investor protection plans for the fiscal year 2082/83.
She expressed deep concern over reports that some people traded shares worth arba of rupees without making actual payments. She pointed out that this artificial trading was done to raise stock prices. Reports also say that high-level officials are involved in this scam. She wondered how such huge transactions remained hidden from the regulator’s eyes for so many years.
Questions on Market Monitoring System
MP Adhikari said it is very worrying that SEBON only started to investigating after the Department of Money Laundering Investigation sent them a letter. She asked if SEBON’s real-time market monitoring system was working properly or not. She also questioned if regular auditing and monitoring of broker companies was weak.
She requested SEBON to find out if this issue is only in one broker company or if other brokers are also doing same thing. She said that a strong monitoring system is highly needed so that these bad activities do not repeat in the market again.
AI Disclaimer: This article was originally published on https://bajarkochirfar.com. It has been translated with the help of AI. For the best understanding and accurate facts, we recommend reading the original Nepali version.
