Kathmandu, August 20 - The Securities Board of Nepal (SEBON) has enforced the sharebroker supervision manual for the institutional capacity enhancement of broker companies.
The securities market regulator has issued the supervision manual and given priority to law enforcement to control the possible risks along with the expansion of the securities market.
“We believe that regulatory reform is a must for a transparent and healthy market growth,” said Rewat Bahadur Karki, chairman of SEBON. The manual, issued by SEBON, has included the provisions of onsite and offsite supervision of broker companies, and stressed on the risk-based and regular supervision of the broker companies.
SEBON will supervise the book-keeping, publication of required reports, status of law enforcement, risk management, reporting on anti-money laundering and combating terrorist financing, human resources and the management of the broker companies.
The securities market regulator has recently given high priority to regulatory reforms and its association with international organisations. It has taken the membership of the International Organisation of Securities Commissions (IOSCO) last year and issued several regulatory frameworks in line with international norms and values.
Source: The Himalayan Times