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{
    "id": 193522,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/193522/?format=api",
    "text_counter": 104,
    "type": "speech",
    "speaker_name": "Mr. Kimunya",
    "speaker_title": "The Minister for Finance",
    "speaker": {
        "id": 174,
        "legal_name": "Amos Muhinga Kimunya",
        "slug": "amos-kimunya"
    },
    "content": "Mr. Speaker, Sir, all capital market dealers who deal directly with clients and are involved in trading activities on behalf of clients owe those clients a fiduciary duty in carrying out those responsibilities. The market and investors should therefore, not be exposed to the losses arising from the breach of these fiduciary duties through negligence, omissions, misrepresentations or malpractices. In this regard, I propose to introduce a requirement of stockbrokers, investment banks and fund managers to have in place mandatory professional indemnity insurance cover for the failure of their employees."
}