BUSINESS REPORTER
EFE Securities and its three securities dealers are guilty of violating trading rules, the bourse said yesterday, a week after announcing their suspension.
Last week, ZSE announced the suspension of EFE Securities and its three securities dealers–Edgeton Tsanga, Brenda Mwaturura and Coreen Madanha for alleged conduct that is “detrimental to the integrity of the market”.
In a statement yesterday, ZSE said EFE and the trio were found guilty of violating the Securities and Exchange Directive SS 09/2021 and the Zimbabwe Stock Exchange Trading Rules 7.18 and 22.
“EFE Securities (Private) Limited, Mr Edgeton Tsanga, Ms Brenda Mwaturura, and Coreen V. Madanha were suspended from participating in all activities that can be carried out by an admitted member of the Zimbabwe Stock Exchange for six (6) weeks ending 2 August 2023. In addition to the practice suspension referred to in Clause 2 above, the affected members were ordered to pay financial penalties,” ZSE said.
