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{
    "id": 493450,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/493450/?format=api",
    "text_counter": 151,
    "type": "speech",
    "speaker_name": "Hon. (Eng.) Gumbo",
    "speaker_title": "",
    "speaker": {
        "id": 24,
        "legal_name": "Nicholas Gumbo",
        "slug": "nicholas-gumbo"
    },
    "content": "returns. I found it a bit ludicrous, because to the best of my knowledge, this fellow had never done any business studies and he had no financial background, least of all, he was someone I knew to have had very little schooling. The reason why this was happening the way it did is because of a lacuna in law which is allowing it to be everybody’s fair game. In that respect, this Bill is very timely because if you look at the Memorandum and Articles of Association of this Bill, it gives the broad outlines of what the Bill intends to achieve. Hon. Speaker, Part II of the Bill establishes the Institute of Certified Securities Investment Analysts. I happen to be from that professional background, therefore, I understand the effects and benefits of proper regulation as indeed timely. The financial sector in Kenya is today one of the fastest growing sectors. I have argued on the Floor of this House that the very geographical construct of Nairobi, makes it indeed, a hub for financial securities to the extent that we are enacting this Bill to bring about regulations in this sector which is very timely."
}