SEBON and Finance Minister must take immediate action on TMS issue: Chhotelal Rauniyar
Investor Chhotelal Rauniyar has expressed serious concern over the problem in NEPSE's TMS system, stating that SEBON and the Finance Minister must take immediate action. He questioned the accountability if investor funds are lost and warned of a negative international message.
Investor Chhotelal Rauniyar on Monday said that Nepal Securities Board (SEBON) and the Finance Minister must take immediate action regarding the problem seen in NEPSE's TMS system. In a conversation with Arthasar, he said that since this issue is very sensitive, the concerned bodies must look into it with attention.
He said that the problem in TMS will send a negative message internationally as well. Even though it is said that data is safe, he questioned who will be accountable if investor funds are lost. He claimed that the current problem arose due to the use of a system built by a local vendor.
‘We must be serious about such a huge amount of investor funds. Whoever is at fault must be punished. If investor money is lost again tomorrow, who will be responsible?’ he said.
Rauniyar said that even when such issues arise from time to time, the concerned bodies have not paid attention. He said that currently two types of TMS are operating in Nepal, and attention must be paid to that as well.
- It is said that the problem has occurred in 72 brokers.
- The remaining brokers might not have faced the problem because they brought their own TMS.
- Settlement in the TMS brought by brokers themselves is faster than that of NEPSE.
He also suggested focusing on maintaining uniformity for all investors.