Kathmandu. The umbrella organization of share investors met newly-appointed Finance Minister Rameshwor Khanal on Monday and urged him to ensure the institutional autonomy of the Securities Board of Nepal (SEBON).
Share Investors Association of Nepal, Nepal Capital Market Investors Association and Independent Capital Market Investors Association jointly submitted a 7-point memorandum to Minister Khanal. “To make Nepal’s capital market sustainable and transparent, it is necessary to ensure the institutional autonomy of the Securities Board of Nepal,” the memorandum states, adding that it is necessary to provide independence to the Securities Board of Nepal in budgetary, administrative and policy decisions, to appoint expert staff and to provide independent monitoring and enforcement authority to control irregularities in the market. ’
Investors have also demanded that the Securities Board of Nepal (SEBON) be provided with adequate tools and authority for regulation of digital financial instruments, investor protection and international cooperation. “This will help develop the Securities Board of Nepal as a competent, self-reliant and modern parental regulatory institution,” the memorandum reads.
