SEBON plans on implementing directive for money laundering; Transactions exceeding Rs 10 lakh need to be informed

Fri, Apr 13, 2018 11:54 AM on Featured, Latest, Stock Market,
SEBON plan...

Securities Board of Nepal has issued the directive regarding Money Laundering with a view of making the investors and related parties in the stock market responsible and accountable towards to the market.

The directive will be implemented from Baisakh 01, 2075 and will provide more responsibility as well as to provide more authority to the regulators as well.

The major highlight of the directive has been that any person performing transaction (single or multiple) exceeding Rs 10 lakhs should inform the Financial Information Department regarding the same.

The board believes that the implementation of the directive will ensure decrease in the money laundering which tend to occur in the capital market and commodity market bringing transparency and credibility in the market.

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