Trending
- Agribusiness could drive Africa’s economic prosperity
- Dawood Al Shezawi: Why AIM Congress 2024 is the epicenter of global economic and cultural dialogues
- d.light’s 600,000 cookstoves project verified as top source of quality carbon credits
- Artificial intelligence (AI) could create a turning point for financial inclusion in Africa
- AIM Congress 2024: Catalysing global investments with awards
- Kenya’s economic resurgence in 2024
- The most stressful cities to live in 2024 exposed
- Tech ventures can now apply for the Africa Tech Summit London Investment Showcase
Browsing: Securities trading in Kenya
The Capital Markets Authority (CMA) has taken enforcement action against individuals in Kenya who it says has been culpable for unethical undertakings in fixed income securities in the last fear years. The move is seen as CMA’s effort to instill proffesionalism in the securities trading in the country mainly through a scheme known as ‘Front Running’.
CMA has taken enforcement action against Mr. Rodrick Muhoro, a bond trader, following conclusion of investigations with respect to allegation of irregular trading of Government Securities in 2016 and 2017.
Consequently, CMA has imposed a financial penalty of Kshs 208 Million being twice the amount of benefit Mr Muhoro received from irregular trading and banned him from conducting bonds trading for a period of 10 years.
“According to the investigations, Mr. Muhoro conspired with brokers to defraud investors in bond transactions undertaken between January 2016 and June 2017 through front running,” a press stament …