The Government of Nepal has appointed Dr. Gopal Prasad Bhatta as the new Chairperson of the Securities Board of Nepal (SEBON), ending a prolonged leadership vacancy at the country’s capital market regulator. The decision was made during the Cabinet meeting held on Friday. Dr. Bhatta, originally from Kailali, will now lead the board after the position remained vacant following the resignation of former Chairperson Santosh Narayan Shrestha.
Since Shrestha had originally been appointed for a four-year term beginning on Mangsir 10, 2081, Dr. Bhatta will serve the remaining tenure and is expected to continue in office until Mangsir 9, 2085 — approximately two and a half years. This appointment also marks Dr. Bhatta’s third attempt to secure the position after previously reaching the final stage of the selection process.
To appoint the new chairperson, the government had formed a three-member recommendation committee initially chaired by former Vice Chairperson of the National Planning Commission, Dr. Gunakar Bhatta. After his resignation, Dr. Sanjay Acharya was appointed to lead the committee. Finance Secretary Ghanshyam Upadhyaya and Bhuvan Kumar Dahal served as committee members. Following interviews and strategic presentations from shortlisted candidates, the committee recommended Dr. Bhatta’s name to the Cabinet for final approval.
Dr. Bhatta earned his PhD in Stock Market Efficiency from Tribhuvan University and brings extensive experience from Nepal Rastra Bank, where he worked in financial policy, research, and supervision. He is recognized for supporting stronger financial governance, improved regulatory systems, and tighter oversight in Nepal’s financial sector.
With SEBON finally receiving new leadership after an extended gap, expectations have increased for progress on pending IPO approvals, capital market reforms, and regulatory decisions. Among the major challenges ahead are improving NEPSE’s structural framework, strengthening market surveillance systems, controlling insider trading, developing commodity markets and new financial instruments, and enhancing policy coordination between SEBON and Nepal Rastra Bank.
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