Monday, June 6, 2011

Sebon allows Online Report Submission to Companies

The Securities Board of Nepal (Sebon) on Tuesday launched a website www.sedfar.gov.np to allow listed
companies, merchant bankers, stockbrokers and other participants to submit online, their periodic financial
reports and other documents required by the Law. Sebon has said in a press release that companies
preparing for IPO could submit their documents online too. "Listed companies are required to get a username
and password to access the service," added the statement.

Sebon, the regulator of the country's capital market, has informed 12 banks and financial institutions (BFIs) about
the website in the first phase. The regulator said that the website would encourage punctual submission of
reports besides reducing the cost of submitting them. "Similarly, the process of submitting reports will be easier
and, errors in the submitted reports can be rectified quickly," said Sebon. "The Securities Data Management System
Project of Sebon developed the website with a grant assistance of the International Development Association
under the World Bank," added the statement.

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