Deepak Gurung
Kathmandu Aug 16, 2024 / The Securities and Exchange Board of Nepal (SEB) has issued a public notice clarifying that action will be taken against those who encourage or discourage the purchase or sale of any company’s shares by saying that the price of shares will increase or decrease through social media.
The board has stated that it has received complaints regarding attempts to influence the market by giving unauthorized interviews and statements through networks such as the media, Facebook, YouTube, and Clubhouse.
‘The Securities Act, 2063 prohibits anyone from encouraging anyone to buy or sell securities, either by themselves or in collusion with others, directly or indirectly, in order to influence the securities transaction,’ the board said in the notice. ‘If you do so, we inform you of the offenses related to securities transactions.’
The board has said that such actions should not be taken, should not be taken, and should not be taken with the aim of encouraging the purchase or sale of certain shares or affecting the free operation of the market.
The board has stated that it is closely monitoring such activities. The board has also requested that investors invest wisely and not be influenced by anyone.
