The Securities Board of Nepal has issued a statement warning people not to try to manipulate the Nepal Stock Exchange (Nepse) by providing suggestions on which shares to buy or sell.
The statement mentions that the Securities Act, 2063, forbids any individual or group from manipulating the share market by suggesting which scrips to buy or sell. If any person is found doing this then that person will be liable to face punishment as per the Act, SEBON has stated.
The securities market regulator has also mentioned that only those individuals or institutions that are accredited to the respective country’s regulator can publish opinions about Nepal’s secondary market. However, the opinions too need to be thoroughly researched.
SEBON has mentioned in the statement that it has come to its notice that some individuals and groups have been urging investors to either buy certain shares or to refrain from buying other scrips. It said that such opinions are being provided through various publications and also social media. The regulator has asked those persons involved in such activities to stop doing so.
The regulator has said that this notice has been issued so that the share market can operate in a transparent manner and investors can benefit from it. It has warned that it will initiate legal action against anybody not following the set norms and regulations of the share market.
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