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{
    "id": 493445,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/493445/?format=api",
    "text_counter": 146,
    "type": "speech",
    "speaker_name": "Prof.) Nyikal",
    "speaker_title": "",
    "speaker": {
        "id": 434,
        "legal_name": "James Nyikal",
        "slug": "james-nyikal"
    },
    "content": "This country has really suffered. Financial institutions have come up, parastatals and corporate bodies have lost out in investments because of lack of proper advice. People have come out to advise them, but in the long-run, it has turned out that they did not get proper advice, the public and the country at large has lost large sums of money. Therefore, we need to set up this institution so that like any other profession, professionals in this field are guided by a body of knowledge, code of conduct and etiquette. In the financial sector, this is perhaps needed more than anywhere else. We, therefore, need to put a framework in place to avoid quacks and pretenders masquerading to give advice to people and institutions. There is need, therefore, to establish this institute in order to determine the requirements in terms of educational background and qualification which are long overdue. Hon. Speaker, it is also important that there are ways and means of reprimanding those who do not adhere to this. Definitely, there will be disputes to be resolved. I support the idea that we establish a body that deals with securities and investment Analysts in this country to advise institutions and persons who need such advice. Thank you."
}