First Time in History of Capital Market "That Bank" Gets License of Stock Broker

 

 The Securities Board of Nepal (SEBON) has awarded eleven additional stock brokerage licenses.

In a press release issued by SEBON today, it stated that eleven new brokerage firms have received final approval after completing the infrastructural pre-requisite in accordance with Securities Dealers (Stock Broker, Securities Dealer and Market Maker) Regulations, 2064 (2008).

Among the eleven companies, nine can work as limited securities broker service while Mega Stock Markets Limited can extend its services as a full operating securities broker. Additionally, Nabil Securities Limited, the lone applicant for a broker company with a dealer’s license, had its application approved.

This is the first time in the history of the capital market that even banks have received approval to extend their services as brokerage houses.

With the new development, a total of 18 companies have received final approval for brokerage license in two phases. In the first phase, seven companies had received approval after completing infrastructural requirements.