Zim Now Writer
The Zimbabwe Stock Exchange has suspended the membership rights of three securities dealers and one firm due to alleged misconduct.
In a statement, ZSE said the suspended members are banned from acting as securities dealers or in any other capacity exercised by duly admitted members of the ZSE.
“Notice is hereby given to the Investing Public, Securities Intermediaries, and all other stakeholders that the Zimbabwe Stock Exchange Limited (“ZSE”) has provisionally suspended the membership rights of EFE Securities (Private) Limited, Edgeton Tsanga, Brenda Mwaturura and Coreen Madanha.
“The effect thereof is that the affected members are barred from acting as securities’ dealers or any other capacities that can be exercised by duly admitted members of the Zimbabwe Stock Exchange pending a hearing into their alleged conduct that was detrimental to the integrity of the market.
“The full details of the alleged violations have been formally communicated to the affected members. The provisional suspension is with immediate effect.
“Further, EFF Securities and its authorised representatives shall ensure that all traders that were executed prior to his provisional suspension are cleared and settled in accordance with the rules of the exchange and the relevant central securities dispositions,” reads the statement.
ZSE said the market will be duly notified of any further developments regarding this matter in due course.
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