Kathmandu. The Securities Board of Nepal has advised investors to trade shares on their own understanding.
The Securities Board has issued a notice in this regard. According to the notice, complaints have been received in the Securities Board regarding attempts to influence the market by conducting unauthorized interviews and statements to encourage them to buy or sell certain shares and not to buy or sell certain shares by saying that the price of shares of NEPSE index and listed organized organizations will increase or decrease through various media and social media like Facebook, YouTube and Clubhouse. “The board has drawn serious attention to the receipt of these complaints,” the notice said.
The Securities Act, 2063 prohibits encouraging anyone to buy or sell securities on their own or in collusion with others to have a direct or indirect impact on securities transactions. “If such an act is carried out, it is informed not to do so with the intention of inducing the purchase and sale of certain shares or not to buy and sell certain shares by disseminating comments and information through the media and social media or any other means, stating that such an act shall be deemed to be an offence relating to securities transactions and to stop such activities without delay.” The Securities Board said.
The Securities Board has warned that action will be taken as per the Securities Act, 2063 BS if it is found to have done such an act by ignoring this notice. “The Securities Board of Nepal has been closely monitoring whether such activities have taken place in the past as well,” the notice said, adding, “All investors are requested to invest prudently without being provoked by anyone, saying that action will be taken as per the law if it is found to be affecting the market.” ’
