SEBON barrs its staff from investing in the capital market

Kathmandu, Aug. 4: The Security Board of Nepal (SEBON) has barred its staffs from making investment in promoters' shares of any company and buying and selling shares in the secondary market while holding post at the office.

Issuing a press statement on Friday the capital market regulator said that no SEBON staffs should hold the position of manager, advisor or official in any company including share brokers and companies listed in the Nepal Stock Exchange.

The 'Code of Conduct of SEBON Member 2074', issued by the board, aims at maintaining good governance in the securities market.

"The code of conduct has addressed the issues like integrity and privacy, financial discipline, abuse of authority, donations and gifts, investing in shares, relations with the media and promotion of the board's activities," read the statement.

The SEBON said that if any of its employees were share brokers or shareholders of any listed companies, they should inform about it to the board and should not participate in any of the meetings and decisions of such companies.

"Board members should not disseminate any information, documents or news that could harm the SEBON to any individual outside the organisation or media companies," it said.

Similarly, it has barred its staffs, and their family members, from asking any gifts, donations or any other objects from any individual or company.