According to Nepse, which is entrusted to conduct exam, a total of 134 hopefuls had taken the exam that carries 25 percent weight of the total exam score. Nepse will recommend the names of 34 candidates, who would be selected from Saturday´s exam, to Security Board of Nepal (Sebon) - the stock market regulator. [break]
“We´ll recommend to the Sebon the name of 34 candidates selected in today´s exam within a week and Sebon will select 27 candidates out the recommended ones,” Tanka Paneru, chairman of Nepse, said.
Though 138 aspirant brokers had been qualified for exam, 134 had taken the exam. A Total 316 aspirants had been selected from the first phase of selection process.
The process of appointing new stockbrokers has slowed since past two years after a case was filed at the Supreme Court objecting selection process and subsequent intervention by Commission for the Investigation of Abuse of Authority (CIAA), forcing Nepse to halt all the new appointment process.
Nepse had completely stopped the process since June when Sebon conducted an investigation into the process as directed by CIAA after the case was lodged.
The selection process, however, picked its momentum after Shankar Man Singh, general manager of Nepse, returned to office after tendering his resignation over a dispute with Nepse board members. The dispute had ensued over the selection of new brokers in the sole capital market of the country.
Nepse had initiated the process to increase the number of stockbrokers by 27 to bring the total number of brokers to 50 in the sole secondary market of the country due to growing pressure from investors amid expanding volume of stock market.
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