KATHMANDU: Finance Minister Swarnim Wagle has directed the newly appointed Chairman of the Securities Board of Nepal (SEBON), Gopal Prasad Bhatta, to strictly prioritize the security of capital market investors while promising zero interference from the ministry in exchange for strict result-oriented accountability.

Administering the oath of office and secrecy to Bhatta at the Ministry of Finance on Monday, Wagle issued a strong mandate for immediate regulatory reforms and weekly briefings on market performance.

The Council of Ministers meeting held on June 19 had appointed Bhatta as the regulatory body’s head.

Following the oath-taking ceremony, Finance Minister Wagle directed the newly appointed Chairman to work with absolute honesty for the security and welfare of investors’ investments, warning him to remain entirely detached from any form of greed or external temptation.

Wagle emphasized that the newly appointed Chairman must pay special attention to safeguarding investor capital and stabilizing the market to pick up the rhythm of national economic growth through robust capital mobilization.

“Protect the investments of capital market investors without falling prey to any greed or influence,” Finance Minister Wagle said during the event. “I am with you. The government will provide all kinds of support. Create an environment to take the path of economic growth through capital mobilization.”

To ensure swift action, the Finance Minister directed Bhatta to immediately submit a structured breakdown of his targets, demanding explicit capital market reform plans for every day, week, month, six months, and one year.

Addressing recent market volatility, Wagle noted that unnecessary rumors were being spread to create fear among small investors, instructing the new chairman to aggressively break that trend and restore market confidence.

He further emphasized that the regulator should prove its competence through tangible actions rather than public statements.

“Implement capital market reform plans by setting a strict timeline. Efficiently fulfill your regulatory role while continuously boosting confidence in the market,” the Finance Minister added. “There will be no interference of any kind from the Ministry. Do not just speak much; work for results. I need a market briefing every week.”

In response, the newly appointed SEBON Chairman Bhatta pledged to work honestly for the development of the capital market in line with the strategic vision of the government and the leadership of the Finance Minister.

He expressed his commitment to fully leverage his knowledge, experience, and professional skills to benefit market investors and directly support the state’s economic growth goals.

Bhatta added that his immediate priority would be to continuously work toward market development by implementing various structural studies and policy recommendations compiled during previous market reviews.