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{
"id": 492990,
"url": "https://info.mzalendo.com/api/v0.1/hansard/entries/492990/?format=api",
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"type": "speech",
"speaker_name": "Hon. Gaichuhie",
"speaker_title": "",
"speaker": {
"id": 17,
"legal_name": "Nelson Ributhi Gaichuhie",
"slug": "nelson-gaichuhie"
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"content": "management and fraud committed by some of the professionals who engaged in malpractices. Such secret trading led to a lot of investors losing a lot of their money because there were no regulations. This institute is going to take care of that so that in future we do not have stock brokers going under with a lot of money from the investors who trust them. There have been instances of lack of fiduciary responsibility among members of the board of some of the listed trading institutions at the Nairobi Stock Exchange. This has led to erosion of market confidence and low saving resulting to low capital formation. When people want to invest and the stock brokers are fraudulent then people stop saving. This actually affects the saving culture of Kenyans and makes our investments go low. There are existing similar institutions which are registered under the Societies Act, Cap.108 of the Laws of Kenya."
}