Kathmandu, August 4 - The Securities Board of Nepal (SEBON) has directed its Board of Directors (BoDs) not to invest in the promoter shares of any company that has received any kind of permission from the board and also to refrain from making any investment in the secondary market.

Issuing a code of conduct for its BoDs, the regulatory authority of the capital market has said that BoDs should not invest in the secondary market and promoter shares during his or her tenure at the board ‘to maintain secrecy and integrity’.

As per SEBON’s direction, its board members can no longer join the board of any brokerage company or any company either listed or is in the process of being listed in the secondary market. The SEBON board members have also been barred from working as full-time staff at any aforementioned organisations.

“BoDs of SEBON should maintain financial transparency and they should not abuse the authority granted to them,” the market regulator has said in a media release issued today. According to SEBON, it is also planning to issue corporate governance directive to the organisations that are under the supervision of the authority. SEBON has already issued code of conduct to its staff members.
Board members will now have to get a clearance from the board before they can speak to the media as any information given by them can directly affect individual companies or even the movement of the market. Board members are not allowed to accept any gifts without permission, as it may affect the decision-making process of SEBON, the release has added.

SEBON has a seven-member BoD, including the chairman. Three members are representatives from government agencies. Joint secretaries from Ministry of Finance and Ministry of Law, Justice and Parliamentary Affairs and executive director of Nepal Rastra Bank are members. Representatives from Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and Institute of Chartered Accountants of Nepal (ICAN) and an independent member are also on board as members.

Source: The Himalayan Times

Corporate News

Parliament body asks govt to solve problem of multiple taxation

KATHMANDU, Aug 15: Parliament’s Finance Committee on Tuesday issued directions to the government to take the lead in solving the chronic problem of multiple taxation by the three tiers of government, as well as the exorbitant hike in tax rates.

Read more ...

Trade deficit surged five-fold in last decade

Kathmandu, August 5 - The country’s trade deficit jumped five folds in the last decade as imports have been skyrocketing and exports have slowed to a crawl in the review period.

Read more ...

Commercial banks yet to reach 122 local units

KATHMANDU, July 29: According to the latest data of the Nepal Rastra Bank (NRB), commercial banks have opened their branch offices in 631 local units so far, leaving 122 local units without their coverage.

Read more ...

Currency war can end global US dollar dominance & those who own gold have power

MOSCOW, June 24: The world is facing a currency war and the only hedge against the crash of the US dollar is real gold, a precious metal analyst has told RT. With geopolitical power shifting from West to East, US dominance may be ending.

Read more ...
Symbol % Change Last Price Turnover
GIMES1 12.5000 9.0 228,200.0
NICA 3.9312 423.0 46,663,655.0
DBBL 3.6765 141.0 14,410,498.0
CFCL 3.3613 123.0 308,006.0
CHL 3.3333 124.0 49,040.0
Symbol % Change Last Price Turnover
CMB -100.0000 0.0 4,112,702.0
UFL -5.9524 158.0 136,654.0
SPDL -5.8824 112.0 89,680.0
HPPL -4.8148 257.0 563,020.0
AHPC -4.3165 133.0 1,286,802.0
Symbol % Change Last Price Turnover
SHPC -1.8750 314.0 74,658,698.0
NICA 3.9312 423.0 46,663,655.0
NMB 0.8380 361.0 38,312,303.0
PRVU 0.0000 217.0 18,679,677.0
NBL 1.3029 311.0 16,511,957.0