A Nairobi-based forex trader Michael Gitonga who is battling charges of defrauding clients of Ksh 215.3 million now wants the case at lower court withdrawn. When he appeared before magistrate Benmark Ekhubi,the court was informed that Capital Markets Authority which is a complainant in this case has an investigation department and this matter will be […]
While the CMA’s intervention offers a regulatory lifeline, the firm must navigate debt repayment, legal battles, and restored investor trust.
CMA emphasized that the funds are held in segregated accounts, protected by regulatory guidelines established in 2023, and managed by authorized custodians and trustees.
A growing number of Kenyans are falling victim to deceptive sales tactics employed by financial advisors and firms, it has been established. These unscrupulous practices, often referred to as “mis-selling,” involve misleading investors into purchasing unsuitable investment products. This often involves providing inaccurate or incomplete information, or outright deception, for example, financial advisors recommending a […]
Afrasia Bank has threatened SBM Bank (Kenya) with a notice of instituting liquidation proceedings against should the bank fail to refund over Sh900 million that it had deposited in collapsed Chase Bank six years ago. Last month, Justice Wilfrida Okwany ruled that SBM is culpable for all liabilities of Chase Bank which it acquired in […]
Dyer and Blair Investment Bank has come under the spotlight following accusations of wash-sale trading scheme. This a practice where the investor’s shares are sold without their permission at a lower price after which they’re are bought back at a higher price. Kenya Insights has learnt that an investor has petitioned the parliament to intervene accusing […]
The Capital Markets Authority (CMA) is now staring at parliamentary scrutiny for failing to protect investors, following the proliferation of unregulated and illegal investment funds that have led to loss of investor funds in the country. Garissa Township MP Aden Duale has asked the Finance and National Planning Committee to probe the CMA after investors […]
