The Securities Board of Nepal (SEBON) — the capital market regulator of the country — has directed the Nepal Stock Exchange (Nepse) and listed firms in the secondary market to submit their annual and financial reports as soon as possible. Issuing a letter to Nepse and the individual listed firms, SEBON has urged them to submit the reports as early as possible.
“Nepse and some listed firms have not submitted their annual reports to the regulator within the deadline,” said Niraj Giri, spokesperson for SEBON. “Listed companies need to submit their annual reports within the end of the first trimester of the next fiscal year and Nepse has to submit the monthly and quarterly reports to the Board.”
As per the provision of the Stock Exchange Operation Regulation 2007, the capital market that means Nepse and the board of directors of listed firms need to submit their reports to SEBON.
The market regulator has prescribed the format to submit the reports and Nepse and the listed firms have to submit the reports in the set format.
Nepse needs to submit the monthly reports of trading to SEBON. Similarly, other listed firms have to submit the annual reports every year and if there are any changes in the structure of the board of directors, management team or the capital structure they need to report about the changes to SEBON.
Source: The Himalayan Times