Entry Instance

HTTP 200 OK
Allow: GET, PUT, PATCH, DELETE, HEAD, OPTIONS
Content-Type: application/json
Vary: Accept

{
    "id": 376112,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/376112/?format=api",
    "text_counter": 452,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "It is also important because it will play an oversight role over all other institutions, including existing institutions like the Nairobi Stock Exchange (NSE). An hon. Member commented about the need to allow them to be self-regulating, but let us face the truth. One weakness with the NSE is that it has been turned into a club of a few people, whose word is almost law. The idea is to now put them in line and institutionalise them. That is what is going to help create confidence, both domestically and elsewhere, so that we can increase the flow of capital into our country. People will have confidence that what they are told about Kenya is what they will find when they come over. Prospectuses and the reporting systems will be accurate. If they are not, the penalties will be extremely heavy. I look at the weight of the penalties as a big plus in this Bill because there are big risks that people can get away with crimes that almost carry the same weight as murder. I find the fact that responsibility is in the hands of the CMA vis-a-vis all other institutions a major positive move and a clear signal to other institutions. They have to begin operating within the rules, which provide for transparency and accountability. Hon. Temporary Deputy Speaker, this is a very timely amendment. We need it to move us to the next level in capital markets development. With those remarks, I beg to support."
}