13 more broker firms have received letters of intent (LOI) for new broker licenses
13 new businesses that applied to become new brokers also received letters of intent.
The procedure of giving new licenses is started by the Securities Market Operation Regulations 2064 and the Securities Dealers Regulations 2064 updated by SEBON.
On Ashwin 2, 2079, the Securities Board published a notice with a 30-day implementation date. In response, one firm and 45 companies applied for stock broker licenses and stock dealer licenses, respectively.
Likewise, 13 additional broker businesses that had submitted licensing applications recently received Letters of Intent (LOI) from the Securities Board.
At the board of directors meeting on Monday morning, letters of intent were previously present to 16 companies.
So far, the LOI has sent to 29 companies that have filed broker applications. Companies are expected to build up their infrastructure in compliance with the board-established requirements when the board provides a letter of intent to a new broker firm.
After preparing the infrastructure, Sebon will check it, and if the conditions are satisfied, the firm will give a license.