Money Markets
CMA seeks proposals on instilling integrity
CMA chief executive, Mrs Stella Kilonzo, and the chairman, Mr Micah Cheserem. Photo/FREDRICK ONYANGO
Posted Thursday, February 4 2010 at 00:00
The CMA’s move is meant to curb rogue trading that has resulted in some brokerages going under and dragging investors savings with them such as the defunct Nyaga Stock Brokers.
To date the CMA is only left with Sh20 million to complete compensating victims of the broker’s collapse.
The CMA chief executive was speaking when the regulator received the ISO: 9001 certification.
Bob Karina of Faida Investment Bank declined to comment on the issue pending a tentative meeting by the Kenya Association of Stock Brokers and Investment Banks scheduled for Friday.
March 5 is the deadline to submit proposals to the CMA on the NSE becoming a self regulation organization and on demutualisation.
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