NEPSE Restructuring: Securities Board Discusses Reform Agenda
A high-level discussion was held at the Nepal Securities Board on the restructuring of the Nepal Stock Exchange (NEPSE) and secondary market reforms. The Board has advanced a work plan to improve NEPSE's institutional structure, ownership, governance, technology, and service diversification.
Kathmandu — A high-level discussion was held at the Nepal Securities Board on advancing the reform process of the Nepal Stock Exchange (NEPSE). The meeting, held at the Board's office, focused on implementing the report submitted by the government-formed NEPSE restructuring recommendation committee, as well as on secondary market operation, management, and diversification of instruments and services.
The discussion was attended by the Securities Board's senior management, including Dr. Gopal Prasad Bhatta, along with NEPSE's board of directors and senior management. The talks centered on reforms needed in NEPSE's institutional structure, ownership, governance, technology, human resources, work procedures, and trading system.
Chairman Bhatta stated that capital, human resources, and information technology infrastructure are indispensable for a modern stock exchange, and that this discussion program was organized for the first time as the beginning of the stock exchange reform process. According to him, the Board's upcoming work plan is to simultaneously advance reforms on more than 30 issues related to NEPSE's capital and ownership restructuring and secondary market operation, management, and diversification of instruments and services, using the Securities Board's regulatory authority.
During the discussion, Narayan Prasad Risal, Chairman of NEPSE's board of directors and Joint Secretary at the Ministry of Finance, termed this discussion between the Securities Board and NEPSE's board of directors a new beginning for securities market reform. He said NEPSE is currently focused on matters in the restructuring report that can be implemented immediately, and is committed to improving NEPSE's technology and systems, institutional governance, investment instruments, and services.
Ambika Ojha Guptaa, Deputy Executive Director of the Securities Board, gave a presentation focused on implementing the suggestions in the NEPSE restructuring report, making secondary market operation and management more effective, and the regulatory matters prepared by the Board regarding diversification of securities market instruments and services.
The Securities Board expects that through NEPSE's restructuring and effective secondary market operation, Nepal's capital market will see:
- expansion of investment options,
- increased reliability of the trading system,
- strengthened market transparency.