Stock exchange and broker license related three regulations has Passed

Sep Thu 2022 02:50:42

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Stock exchange and broker license related three regulations has Passed

Kathmandu. Three regulations related to the securities market have been passed at once. The meeting of the Council of Ministers on August 20th passed the Securities Market Operation Regulations, 2074, Securities Traders (Securities Brokers and Securities Traders), Regulations 2064 Fourth and Securities Registration and Issuance Regulations 2073 Fifth Amendment Proposals.

The regulatory body Nepal Securities Board had revised the regulations and submitted them to the Ministry of Finance at the end of last June, along with proposals for three types of brokers for the distribution of new stock exchanges and new broker licenses. With the approval of the proposal by the Council of Ministers, the way for distribution of new stock exchange and broker license has been opened.

This year, through the budget, the government arranged to provide 10 percent reservation facility to Nepali citizens living abroad in IPO. The meeting of the Council of Ministers on Monday has also passed the Fifth Amendment to the Securities Registration and Issuance Rules, 2073 for the implementation of the provision.

The board believes that with the passing of the amendment proposal of these three types of regulations, an important basis for the development of the securities market will be established. The board has said that new stock exchanges and new broker licenses will be distributed on the basis of competition.