KATHMANDU: Securities Board of Nepal (SEBON) — the securities market regulator — has scrapped a committee formed to conduct a study on illicit flow of capital into the stock market. The decision was taken as many investors got the impression that the committee would investigate cases related to money laundering in the secondary market and take action against those engaged in illegal activities, says a statement issued on Monday by SEBON. “There are other bodies to carry out these activities and the committee was formed only to conduct study on illicit flow of capital into the stock market,” says the statement, adding, “The committee has, thus, been scrapped.” The regulator had formed the committee as daily turnover in the stock market starting crossing Rs one billion.