Nepal, June 8 -- Employees of the Securities Board of Nepal (SEBON) have called for the withdrawal of the draft securities bill currently under parliamentary review, urging that a new version be prepared to better reflect the dynamic nature of the capital market.

Speaking at SEBON's 33rd anniversary event, Employees' Union President Ajaya Dhungana said that the proposed amendment fails to address critical reforms and structural needs of the securities market. He emphasized that the bill does not provide legal clarity or additional regulatory mechanisms, calling for separate laws for the Board and the market."The bill, as it stands, does not empower SEBON to function as an effective regulator," Dhungana said. He warned that weakening the ...