Nepal’s securities regulator has imposed fines on two brokerage firms for not submitting audited financial statements on time. This is their first recorded violation.
Nepal Securities Board (SEBON) has imposed financial penalties on two brokerage companies—Apple Securities and Beni Securities. Each company has been fined NPR 5,000.
According to SEBON, the action was taken under Section 82, Sub-section (1) and (2) of the Securities Act, 2063. The reason for the fine is the failure of both companies to submit their audited financial statements and financial reports for the fiscal year 2080/81 within the specified deadline.
SEBON has clarified that this is the first time these companies have faced such action for non-compliance.
This article was originally published on bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
