Stock market trader Aly-Khan Satchu and former Kestrel Capital chief executive Andre DeSimone will pay cash fines and serve varying bans from holding key positions in any Capital Markets Authority (CMA) licensee for their roles in the KenolKobil #ticker:KENO shares insider trading scandal.
Mr Satchu, the chief executive of investment advisory firm Rich Management, will pay a fine of Sh4.69 million, being the commissions he earned from the illegal trades, and serve a three-year ban after the regulator found him guilty of initiating irregular trading of the Nairobi Securities Exchange (NSE) listed KenolKobil’s shares ahead of last year’s takeover announcement by French company Rubis.
