Kathmandu. Now stock brokers (stock brokers) will be able to make public offers (IPOs) of ordinary shares.
The Securities Board of Nepal has made the sixth amendment to the Securities Entrepreneurs (Securities Brokers and Securities Traders) Regulations. By adding sub-rule (a) to Rule 11 of the regulations, a stock broker licensed by the Securities Board can issue an IPO.
Similarly, brokers will now be able to manage investment and consult with stock trading. Rule 32 of the regulations has been amended to allow brokers to provide securities transactions, investment management and investment consultancy services. Earlier, there was a provision in the regulation that the broker could provide securities trading services.
Provision has also been made through the amended regulations that the service fee charged from the customer for providing investment management and consultancy services will be as mentioned in the agreement between the broker and the customer.
Amending the regulations, the Securities Board has extended the deadline till Mid-March 2082 to maintain the minimum paid-up capital of the old brokers. Earlier, the deadline for maintaining minimum paid-up capital was till Mid-July 2082.
