22nd August 2025, Kathmandu
The Vice President of the Institute of Chartered Accountants of Nepal (ICAN), Chartered Accountant (CA) Ananda Raj Sharma Wagle, has been officially appointed as a Board Member of the Securities Board of Nepal (SEBON).
Board Member Appointment of SEBON
This appointment is a significant development that not only recognizes Wagle’s professional expertise but also fulfills a crucial statutory provision that mandates the representation of ICAN on SEBON’s governing body. The inclusion of a seasoned professional from the auditing and accounting field is expected to strengthen SEBON’s capacity to regulate and promote Nepal’s burgeoning securities market.
Appointment and Legal Basis
The formal appointment ceremony was held on Friday, August 22, 2025 (Bhadra 6, 2082), at the SEBON headquarters. The event was a key step in the official induction process, during which SEBON Chairman Santosh Narayan Shrestha administered the oath of office and formally welcomed CA Wagle. The presence of other senior board members and high-ranking officials at the ceremony underscored the importance of the new board member’s role. They extended their best wishes and expressed confidence that Wagle’s expertise would be invaluable to the board.
This appointment is not merely a formality but is rooted in a specific legal mandate. As per the Securities Act, 2063 (2006), Section 3(2)(nga), it is a legal requirement that a representative from the Institute of Chartered Accountants of Nepal (ICAN) must serve as a member of the SEBON board. This provision ensures a vital link between the professional accounting and auditing community and the capital market regulator. CA Ananda Raj Sharma Wagle was officially nominated by ICAN to fill this position, a testament to his standing within the professional body.
Professional Profile of the New Board Member
CA Ananda Raj Sharma Wagle brings a wealth of experience and expertise to his new role. His profile is marked by a deep commitment to the accounting profession and a history of leadership.
- Current Position: He holds the esteemed position of Vice President of the Institute of Chartered Accountants of Nepal (ICAN).
- Professional Expertise: A seasoned Chartered Accountant, he has extensive experience in a variety of key financial areas, including auditing, taxation, and financial consulting. His hands-on experience in these fields provides him with a practical and deep understanding of financial integrity and corporate governance.
- Reputation and Contributions: He is widely respected for his leadership skills and his active role in strengthening Nepal’s accounting and auditing profession. As Vice President of ICAN, CA Wagle has been instrumental in enhancing institutional governance, developing professional programs for accountants, and advocating for greater transparency in financial reporting.
His appointment to SEBON is a direct reflection of this expertise and his potential to contribute significantly to the oversight and regulation of Nepal’s securities market.
Significance of the Appointment for SEBON and the Market
The Securities Board of Nepal (SEBON) is the apex regulatory body for the country’s capital market. Its mandate includes supervising and regulating market activities, protecting investor interests, and developing policies for sustainable market growth. The inclusion of an ICAN representative on the board, as mandated by law, provides several key benefits:
- Strengthened Financial Integrity: The presence of a Chartered Accountant on the board reinforces SEBON’s commitment to transparency, accountability, and the strict adherence to financial standards. His background in auditing will be crucial in ensuring that listed companies maintain high standards of financial reporting.
- Professional Expertise in Decision-Making: CA Wagle’s background in auditing and accounting will provide invaluable, informed insights during the formulation of market policies. His expertise can help SEBON navigate complex financial issues and make more effective, data-driven decisions.
- Closer Collaboration: This appointment creates a direct bridge between the professional accounting community and the securities regulator. It will ensure better alignment between financial reporting standards and market compliance, fostering a more cohesive regulatory environment.
Looking Ahead
As Nepal’s securities market continues to evolve with new products, increased retail investor participation, and the expansion of the stock exchange, SEBON’s role is becoming more critical than ever. The appointment of CA Ananda Raj Sharma Wagle is expected to contribute significantly to several key areas:
- Improving Corporate Governance: He is well-positioned to help SEBON improve corporate governance practices among listed companies, which is essential for building investor trust.
- Enhancing Financial Disclosure: His expertise will be vital in raising the standards of financial disclosure and auditing among market participants.
- Supporting Capital Market Reforms: He can provide informed guidance on capital market reforms, helping to align Nepal’s practices with global best practices.
- Building Investor Confidence: Ultimately, his presence on the board will help build stronger investor confidence by ensuring that the market is fair, transparent, and well-regulated.
In conclusion, the induction of CA Ananda Raj Sharma Wagle into the Securities Board of Nepal is a strategic and statutorily-mandated move to bolster the board’s expertise and governance standards. His experience as a leader at ICAN positions him as a valuable contributor to SEBON’s mission of building a transparent, fair, and sustainable securities market in Nepal, ensuring long-term growth and enhanced investor protection.
For More: Board Member Appointment of SEBON