Kathmandu, Sept. 10
The Securities Board of
Nepal (SEBON) has set the standards of office, human resources, instruments and
policies for the merchant bankers.
According to its
instructions issued on Thursday, the merchant bankers should have their offices
in at least 1,000 square feet area with separate spaces for guests and waiting
room, service area, store, information technoogy and other units. They have to
manage the space for at least two years and manage information technology
equipments and services.
The Chief Executive
Officer of any merchant banker must have
at least bachelors degree in economics, commerce, finance, accountancy,
management or commercial law or have the title of chartered accountant.
He or she should have
three years experience in the areas like industry, commerce, securities market,
accountancy, management or commercial law.
Likewise, the securities
business consultant or the department head should have the qualification of
masters degree in commerce, economics and management or law or be a chartered
accountant or financial analyst.
If the CEO has these
qualificaitns then the company is not obliged to have the consultant.
The capital market
regulator has also directed the merchant bankers to formulate various policies,
bylaws and work procedures as well as code conduct for the CEO and other staff
to run the business.
Published in The Rising Nepal daily on 11 September 2020.
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