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{
    "id": 155933,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/155933/?format=api",
    "text_counter": 246,
    "type": "speech",
    "speaker_name": "Mr. Nyammo",
    "speaker_title": "",
    "speaker": {
        "id": 117,
        "legal_name": "Francis Thombe Nyammo",
        "slug": "francis-nyammo"
    },
    "content": "Mr. Speaker, Sir, I rise to seek a Ministerial Statement from the Deputy Prime Minister and Minister for Finance on the performance of the Nairobi Stock Exchange (NSE), the Capital Markets Authority (CMA), the Central Depository and Settlement Corporation (CDSC) and the supervisory role of the Treasury. I would like the Minister to particularly answer the following questions: Why was the content of forensic audit report compiled by Pricewaterhouse on the stocks and equity market not released to the public officially? Why did the CMA allow some of the stock brokerage firms such as Nyaga Stock Brokers, Discount Securities Limited, and Francis Thuo and Partners to continue trading while they were not complying with the rules and regulations of the NSE? How much money was the public that invested in shares defrauded by these stockbrokers, and investment and commercial banks in the first five years? What has the Ministry of Finance done to restore investor confidence in view of the very poor state of the NSE, the CMA and the CDSC? Could the Minister confirm to this House as to whether there are other stockbrokers who are on the verge of collapse? Could he also give us their details? What steps has the Ministry taken to ensure that no stock brokerage firm collapses and that the investing public in the country is not defrauded?"
}