Nepse online for transparency

Nepal Stock Exchange Ltd (Nepse) has started publishing Payout and Due Settlement on its website from today. According to Nepse, it will be published on a daily basis.

After it received complaints from investors that they were not getting share certificates they had bought or the money from shares they sold on stipulated time, Nepse decided to make accounts transparent on a daily basis. The time fixed by Nepse is three days to get the certificate or the money.

"We have also directed brokers to submit their financial status every Friday," Rewat Bahadur Karki, Nepse general manager said adding that after receiving complaints from investors Nepse decided to make transactions transparent.

"We are also thinking of charging fine if the brokers do not abide by the rules," he added.

Nepse being the frontline regulator of the capital market has to act on behalf of the investors.

Issuing a press release, Nepse today said that it was committed to protect the investors' interests and it believed that timely availability of money from the sale of shares would help maintain clarity in the market. Nepse has also a hotline service for complaints.

Meanwhile, after Securities Board of Nepal's (Sebon) strict regulation the investors' confidence has grown. “After Sebon's strict directives to the collection centres, they are checking the original citizenship certificates before accepting IPO applications, and that has encouraged the common investor,” said Dr Chiranjivi Nepal, chairman of the regulatory authority of the capital market.

Common people have throng the collection centres to submit the IPO forms nowdays.
Source: THT