SEBON’s Close Eye on Illicit Demat Accounts

Sep 13, 2019 11:32 AM Merolagani

Securities Board of Nepal (SEBON) has directed CDS and Clearing (CDSC) to keep close eye on illicit demat accounts opened by depository members.

On the ground that the depository members open accounts in the absence of concerned person as well as  open, renew and operation of multiple demat account in multiple names under the authority of single person, SEBON directed CDSC to inspect the depository members.

The board directed CDSC to submit the inspection report within 15 days.

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