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{
    "id": 493523,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/493523/?format=api",
    "text_counter": 224,
    "type": "speech",
    "speaker_name": "Hon. A.B. Duale",
    "speaker_title": "",
    "speaker": {
        "id": 15,
        "legal_name": "Aden Bare Duale",
        "slug": "aden-duale"
    },
    "content": "Thank you, Temporary Deputy Speaker. I stand to contribute to the Securities and Investment Analysts Bill, 2014. I want to thank the Chairman of the Departmental Committee on Finance, Planning and Trade, hon. Benjamin Langat, for bringing this Bill. The principal purpose of this Bill is to provide for the establishment of the powers and the functions of a new professional body to be known as the Institute of Certified Securities and Investment Analysts. This Bill deals with the registration of certified securities and investment analysts to facilitate the realization of an accountable, efficient and trustworthy securities market. Once enacted into law, this Bill will introduce individuals who are practicing as financial securities and investment analysts. If you do not own a licence, penalties have been provided. For instance, you would be required to pay a fine of Kshs500,000 or you go to Kamiti for two years. There are many brokers who wear good suits and who have nice offices in down-town Nairobi. They will tell you that they are experts and they would want to advise you on how to use your money. I want to tell them - if they are watching - that their days are numbered. That is because the law is going to catch up with them. Never again will you form stock brokerage and investment companies and expect to go away with the money that has been got through sweat and hard labour. This Bill introduces a segment where it seeks to enhance professional conduct among financial securities and investment analysts. The segment is to be known as ICIA. What will those people do? They are supposed to give investment advice based on facts The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
}