8th April 2024, Kathmandu
The search for the next Chairman of the Securities Board of Nepal (SEBON) has narrowed down to five candidates, marking a crucial step in the regulatory body’s leadership transition.
Out of 19 applicants vying for the esteemed position, the recommendation committee has meticulously selected five individuals for the interview process.
The shortlisted candidates are as follows:
- Dr. Nabaraj Adhikari: Executive Director of Securities Board of Nepal (SEBON)
- Muktinath Shrestha: Executive Director of Securities Board of Nepal (SEBON)
- Krishna Bahadur Karki: Chief Executive Officer of Nepal Stock Exchange (NEPSE)
- Chiranjivi Chapagai: Former Beema Samiti Chairperson
- Santosh Narayan Shrestha:
Chairman of Securities Board of Nepal Selection
Following the interview phase, three candidates from the shortlist will be recommended to the Cabinet for consideration.
Ultimately, one of these nominees will be appointed by the Council of Ministers as the Chairman of SEBON, serving a tenure of four years.
About SEBON
Established by the Government of Nepal on June 7, 1993, SEBON operates as the apex regulator of Securities Markets. Governed by the Securities Act, 2006, the board comprises seven members, including a full-time chairman appointed by the Government.
Organizational Structure and Functions
SEBON functions through four departments and eight divisions, overseeing various aspects of securities market regulation. Its major financial sources include government grants, transaction fees, and registration fees.
The board’s key responsibilities encompass:
- Providing advisory to the Government on capital market development
- Issuing securities regulations and directives
- Registering securities of public companies
- Regulating and systematizing securities transactions
- Licensing stock exchanges, brokers, and other market intermediaries
- Supervising and monitoring collective investment schemes
- Preventing insider trading and safeguarding investor interests
- Establishing coordination with relevant agencies for regulatory matters
As SEBON advances in its pursuit of ensuring market integrity and investor protection, the selection of a capable Chairman is paramount. The shortlisted candidates represent a diverse pool of expertise, poised to lead SEBON into a new era of regulatory excellence and market growth.
Stay tuned for updates on the appointment process as Nepal’s securities market evolves under new leadership.
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