SEBON Fines Three Stock Brokerages Rs 11 Million for Money Laundering Non Compliance

The Securities Board of Nepal (SEBON) has penalized three stock brokerage firms with collective fines amounting to NPR 11 million (Rs 1.1 crore) for failing to comply with legal regulations concerning anti money laundering and combatting the financing of terrorism. According to a public notice issued by the capital market regulator, the disciplined companies include Sipla Securities, Shree Krishna Securities, and Hatemalo Financial Services. The board took legal action under Section 7F, Sub-section (1)(b) of the Prevention of Money Laundering Act, 2064, following breaches in required compliance standards for financial intermediaries. Among the penalised brokerages, Gyaneshwor based Sipla Securities Pvt. Ltd. received the highest penalty of NPR 5 million. Meanwhile, Shree Krishna Securities Ltd., located in Dillibazar, and Hatemalo Financial Services Pvt. Ltd., based in Naxal, were each fined NPR 3 million. The move highlights SEBON's ongoing regulatory crackdowns aimed at enforcing strict compliance, preventing illicit financial activities, and ensuring transparency within Nepal’s stock trading ecosystem.