Kathmandu. The Securities Board of Nepal (SEBON) has directed the stock brokers to provide money to the investors in ‘T-plus two’.
The Securities Board of Nepal (SEBON) has issued a circular to stock brokers and dealers today. The directive has been issued in exercise of the powers conferred by Section 84 (1) of the Securities Act, 2063 (2006) for the purpose of regulating and monitoring the transactions of securities market and securities entrepreneurs in order to make the trading of securities strong, effective and credible.
In the four-point directive, it has been asked to effectively implement the provision of providing money to the customers during the T-plus two periods of securities trading.
Similarly, the Securities Board of Nepal (SEBON) has also directed the securities brokers to use different bank accounts in the coming days as the securities brokers have been found to have mobilized all the records through a single bank account during the inspection by the Securities Board.
The Securities Board of India (SEBON) has directed brokers to conduct at least one financial literacy programme a month. In order to effectively manage and mitigate the complaints of customers related to securities transactions, every securities broker has been directed to form an investor grievance redressal unit and fix the work procedure and submit the details related to grievance resolution to the Securities Board within three working days of the end of each month.
