43 new brokers began a protest, alleging that existing stock brokers attempting to halt license
43 companies that got the letter of intent to obtain the new broker's license have started protesting.
KATHMANDU: The protest started as a result of the existing stock brokers’ group, the Stock Broker Association of Nepal, attempting to halt the licensing of new brokers.
43 companies that got the letter of intent to obtain the new broker’s license have started protesting.
They then challenged the Nepal Securities Board, the then-Council of Ministers, and the Supreme Court to corroborate the claims, claiming that the Stock Brokers Association had charged them with financial manipulation.
“This is probably the first time in the history of Nepal that we have set a time limit, completed all the work within the set time limit, completed all the processes in a completely transparent manner and proceeded with the work, and we did not have to spend even 1 penny on it”, stated in the statement issued by 43 companies that have received letter of intent for broker license.
They have challenged to prove the allegations saying that the accusation of financial manipulation was made by the Stock Brokers Association of Nepal.
‘We challenge to prove the accusation with evidence. If such baseless, fabricated allegations are found to be made in the future, we will be forced to seek legal remedy,” the statement said.
