KATHMANDU: Newly-appointed Chairman of Securities Board of Nepal (SEBON) Ramesh Hamal has warned brokers of action if they do not settle transactions within T+2 days.
Speaking at a press conference in Kathmandu on Monday, Hamal warned that immediate action would be taken if the shares were not settled within the stipulated time.
Stressing small investors should not be cheated, he said the brokers should not mobilize investors’ fund elsewhere.
Stating that issuance of issuing initial public offering (IPO) through book building was an international practice, Hamal said the same would soon be implemented effectively in Nepal.
Hamal said SEBON had been working to make an app to receive complaints from investors. He assured that he would develop and expand the stock market based on his long experience.
He urged all not to believe and give attention to rumors that might portray him as corrupt.
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