The capital market regulator has halted the process of granting new licence to issue managers and share registrars citing the sufficient players in the market.
Issuing a statement, the Securities Board of Nepal (Sebon) has said that the board has halted the licensing process after analysing the market size and need of the companies. There are altogether six merchant bankers that provide services of issue manager, securities underwriting, share registration, portfolio management and institutional consultancy. Likewise, there are 10 companies in operation that provide services of issue manager, securities underwriting, share registration and portfolio management. One company is dedicated to share registration and portfolio management and seven companies are working in the areas of portfolio management, according to the Sebon.
Currently, there are seven firms in pipeline of taking approval from the board. Of them, five have sought the licence for merchant banking with aforementioned five services and one has applied for merchant banking with four services, except institutional consultancy, according to the board.
Sebon executive director Niraj Giri confirmed that the board has halted the licensing of new companies in the context of the regulators of financial sector – Nepal Rastra Bank (NRB) and Insurance Board (IB) – halting the new licensing of banks and financial institutions (BFIs) and insurance companies.
Earlier, the board had raised the capital of merchant bankers up to four folds and also expanded the areas of works to include institutional consultancy services in addition to issue manager, securities underwriting, share registration, portfolio management.
Issuing a statement, the Securities Board of Nepal (Sebon) has said that the board has halted the licensing process after analysing the market size and need of the companies. There are altogether six merchant bankers that provide services of issue manager, securities underwriting, share registration, portfolio management and institutional consultancy. Likewise, there are 10 companies in operation that provide services of issue manager, securities underwriting, share registration and portfolio management. One company is dedicated to share registration and portfolio management and seven companies are working in the areas of portfolio management, according to the Sebon.
Currently, there are seven firms in pipeline of taking approval from the board. Of them, five have sought the licence for merchant banking with aforementioned five services and one has applied for merchant banking with four services, except institutional consultancy, according to the board.
Sebon executive director Niraj Giri confirmed that the board has halted the licensing of new companies in the context of the regulators of financial sector – Nepal Rastra Bank (NRB) and Insurance Board (IB) – halting the new licensing of banks and financial institutions (BFIs) and insurance companies.
Earlier, the board had raised the capital of merchant bankers up to four folds and also expanded the areas of works to include institutional consultancy services in addition to issue manager, securities underwriting, share registration, portfolio management.
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