The Securities Board of Nepal (SEBON) is planning to start big discussions with stakeholders from Bhadra to bring major reforms in capital market.
During the visit of Finance Minister Dr. Swarnim Wagle to the SEBON office on Monday, the board chairman Dr. Gopal Prasad Bhatta presented a new action plan. Under this plan, the regulator will start wide consultations from Bhadra on important topics like intraday trading, margin lending, short selling, and initial public offerings (IPOs).
Preparation of Drafts by Shrawan
According to SEBON, they will prepare consultative papers and drafts of necessary rules and guidelines within the month of Shrawan. After that, they will hold discussions with investors, brokers, merchant bankers, listed companies, and other stakeholders starting from Bhadra. The policies will be revised and implemented based on the feedback received from these meetings.
Chairman Bhatta shared that the Capital Market Development Blueprint is already under implementation. He added that the capital market policy and action plan for the fiscal year 2083/84 has also started. He requested the Ministry of Finance to help in solving challenges and boosting the motivation of SEBON employees.
Directions from Finance Minister
Finance Minister Dr. Swarnim Wagle directed the board to improve its regulatory quality and work with high ethical standards. He mentioned that the new leadership has started working with a long-term strategy, which has sent a positive message to investors. He said that SEBON is prepare to make good changes for the system.
Wagle compared SEBON to Nepal Rastra Bank, saying it is a strong regulator of the financial system. He said the board must build its institutional capacity without any deviation. Since the number of Demat accounts has increased a lot, investors now have higher expectations, and SEBON needs to increase its capacity accordingly.
He also advised the board to analyze policies from a political economy perspective and discuss with stakeholder before implementing them. This will help to build sustainable market development and trust. He promised that the government will provide all necessary help for regulatory and legal reforms.
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.
