Why has NEPSE closed the TMS of Broker No. 92?

NEPSE closed the TMS of Broker No. 92
NEPSE closed the TMS of Broker No. 92

NEPSE has closed the TMS of Broker No. 92 i.e. Roadshow Securities, which is also a new broker company. The broker company’s TMS (Trade Management System) has been closed due to non-payment of monthly technical fees.

Investors who have been using this broker’s platform are restricted from using it after the company’s TMS closes and cannot participate in trading. However, a senior NEPSE (Nepal Stock Exchange) officer has informed that the broker company has not yet contacted NEPSE.

To manage the share market, NEPSE has established a set of guidelines and policies for investors as well as brokers. The Securities Transaction Management (Third Amendment- तेस्रो संशोधन) Regulation 21 F states that 2079 contains regulations regarding reporting fees. The statement “a business member must pay a monthly technical service fee as per schedule 2c to NEPSE for adding a business management system to NEPSE’s business system” is in sub-regulation 3 of regulation 21.

The regulation also talks about when to pay such fees. According to the regulation, the fee should be submitted within the seventh day of the first month of each quarter. If the fee is not paid within the mentioned time NEPSE can stop the service at any time which is mentioned in the regulation. Based on the same rules, NEPSE closed the TMS of Broker No. 92. 

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Why has NEPSE closed the TMS of Broker No. 92?

Roadshow Securities has not paid the fee since January. 

When will the TMS of Broker No. 92 start again?

According to NEPSE, TMS will be started only after the broker pays the fees and fines. 

How much money does Broker No. 92 have to pay a penalty?

The company now has to pay 25,000 rupees monthly and a penalty fee of 50,000 rupees.