SEBON issues directives for proper implementation of C-ASBA

Securities Board of Nepal (SEBON) has issued new directives for the banks and financial institutions regarding the proper implementation C-ASBA. After receiving the complains from the investors regarding lack of proper service, acceptance of application without the confirmation about the available balance in the account, acceptance of cheque and other such problems. The board has issued the following directions:

• In case of public issues, the banks and financial institutions should make proper documentation about the applicant.
• If the applicants’ account has enough balance for the application, the banks should block the required amount and accept the application.
• The institutions should try their best to provide proper information to the interested customers.
• To provide necessary trainings to the employees in order to implement the service in a more proper way.