SEBON Takes Action Against 11 Broker Companies for Failing to Submit AML Reports on Time

The Securities Board of Nepal (SEBON) has taken disciplinary action against 11 broker and merchant capital companies for failing to submit their mandatory Anti-Money Laundering (AML) reports within the stipulated timeframe.

According to SEBON spokesperson Niranjaya Ghimire, these companies did not submit their semi-annual performance reports related to AML compliance within 15 days after the reporting period ended, as required by regulation. As a result, SEBON has issued a formal written warning in the first phase of its action.

The decision to initiate disciplinary measures was made during the board meeting held on Baisakh 25. Following that, SEBON dispatched official letters to the concerned companies on Sunday.

The companies facing action include:

• Bluechip Securities

• Propert Wizard

• Stockscartz Securities

• Sumeru Securities

• Roadshow Securities

• Sagarmatha Securities

• Infinity Securities

• Magnet Securities & Investment Company

• Elite Merchant Capital

• Reliable Investment & Merchant Capital

• Reliable Venture Capital

SEBON has made it clear that this is only an initial warning. If such negligence is repeated in the future, the board will impose monetary fines and take stricter legal actions as per prevailing laws.

This move by SEBON is aimed at enforcing transparency, accountability, and strict compliance in Nepal's capital market operations.