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{
    "id": 17331,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/17331/?format=api",
    "text_counter": 467,
    "type": "speech",
    "speaker_name": "Mr. Mungatana",
    "speaker_title": "",
    "speaker": {
        "id": 185,
        "legal_name": "Danson Buya Mungatana",
        "slug": "danson-mungatana"
    },
    "content": "My worry is this bit of the recognition of self-regulatory organization. The Minister for Finance needs to tell us more. After the Stock Exchange started, we have gone step by step. In fact, I am very happy that you have made some changes. You are proposing delegation of functions to a committee of the board, a recognized self- regulatory organization and to an authorized person. You are also saying that the same authority can take away that delegation any time. Madam Temporary Deputy Speaker, my worry is the futures market that we want to introduce now. We are introducing it and then we are saying they are to go directly into self-regulation. So, we want to understand why the Capital Markets Authority cannot continue doing it. They do it at least in the interim; I am feeling like this is a situation where the Government may be getting excited about a future idea. We are all excited about it, but then we are just leaving it to some players who will come and do their own internal self-regulation. We are giving them all the power at a go; I do not get it properly, but the way I have seen the CMA, they have been doing a very good job. They have brought some discipline in that market and the general trading there. Now we are saying through this Bill that they will delegate some of their powers, which they can take back any time."
}