Restructuring Nepal’s Securities Board: Private Sector Representatives to Be Removed Within a Year

The Government of Nepal is preparing to restructure the Securities Board of Nepal (SEBON), aiming to remove private sector representatives from its board within the next year. This move comes as part of a broader reform plan recommended by the High-Level Economic Reform Recommendation Commission, led by former Secretary Rameshwor Khanal.

Currently, SEBON’s board includes representatives from private sector bodies such as the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the Institute of Chartered Accountants of Nepal (ICAN). However, under the new plan, these roles will be replaced by permanent seats for the Revenue Secretary of the Ministry of Finance and the Deputy Governor of Nepal Rastra Bank.

The reform blueprint was developed by a committee headed by Chudamani Paudel, Secretary at the Prime Minister’s Office. It also proposes the inclusion of “expert members” to bring in technical and policy-level insights that can strengthen decision-making.

The Ministry of Finance has been assigned the responsibility to implement the restructuring, with a one-year timeline to complete the process.

In parallel, the government also plans to restructure the Nepal Stock Exchange (NEPSE). However, unlike SEBON, private ownership in NEPSE will be retained, with reforms focusing more on improving its governance and operational efficiency.

Through these institutional changes, the government aims to enhance the transparency, accountability, and professionalism of Nepal’s capital market regulatory framework.