Kathmandu, May 4: The Securities Board of Nepal (SEBON) has awarded Letter of Intent (LoI) for 13 new companies who submitted applications for new brokers.
The Securities Market Operation Regulations 2064 and the Securities Dealers Regulations 2064 revised by SEBON begin the process of awarding new licenses.
SEBON released a notice on Ashwin 2, 2079 with a 30-day deadline in order to carry it out. As a result, 45 companies submitted applications for stock broker licenses, while one company applied for a stock dealer license.
Likewise, the Board recently issued Letters of Intent (LOI) to 13 new broker companies who had submitted license applications.
Earlier on Monday, SEBON awarded LoI to 16 companies. Accordingly, 29 companies that have submitted broker applications have received the LOI so far.
After the board issues the new broker company with a letter of intent, the companies are required to set up their infrastructure in accordance with the board-established standards. Following infrastructure preparation, SEBON will monitor and the company will be granted a license if the requirements are met during monitoring.
Newly awarded companies
