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SEBON Warns Against Market Manipulation: Strict Actions To Be Taken

By Bishal Deep Basnet on Nov 14,2017 - 14:34

SEBON had recently planned to launch a fully automated trading system on November 12. However, the plan had to be brought to an end as the system was unable to replace the semi-automated trading system that is functioning currently.

It has come to light that the developer for the new automated software is still working on the software, so the new system has been delayed.

SEBON has been receiving a large number of complaints from investors. SEBON has put out a strict warning to merchant bankers and sharebrokers to not release sensitive information.

The release of sensitive information has been directly linked to the manipulation of the secondary market. 

With this warning in effect, SEBON also put out a warning that no comments are to be made of any certain price of a company or sub-index and if these warnings are violated, strict action is to be taken.

This is a good news for the overall stock market as the chances of market manipulation are very minimal as SEBON itself is now taking action against it. The automated system will probably be delayed for a few months, which is a rough estimation. 

Tags -  SEBON , Business , Nepal , Secondary Market