Share Trading Suspension: SEBON Directs NEPSE to Submit Report with Reforms Within 7 Days
The Securities Board of Nepal (SEBON) has expressed serious concern over the suspension of share trading on Ashwin 5 due to technical issues. SEBON has directed the Nepal Stock Exchange (NEPSE) to submit a report with reforms within 7 days. Additionally, a 5-member inspection team has been deployed to identify the technical problem.
Kathmandu. The Securities Board of Nepal (SEBON) has expressed serious concern over the suspension of today's share trading, citing technical problems.
The Nepal Stock Exchange (NEPSE) had suspended trading on Ashwin 5 after a technical problem occurred in the data center hosting the servers of 72 stockbrokers since the morning of Ashwin 4. The Securities Board has expressed serious concern over this matter.
In this regard, the Securities Board has also directed NEPSE to conduct a necessary study and investigation into the circumstances that led to the suspension of share trading and to submit a report with reforms to prevent such incidents from recurring, within 7 days, i.e., by Ashwin 12.
Similarly, according to a circular issued by the Securities Board, a 5-member inspection team led by the Deputy Executive Director of the Securities Board was deployed immediately upon receiving information from NEPSE about the trading suspension to identify the technical problem. The Securities Board has also committed to taking further actions to make the stock market healthy, secure, and transparent in the future based on the recommendations submitted by the deployed team.