ZSE suspends EFE, securities dealers
BUSINESS REPORTER
The Zimbabwe Stock Exchange (ZSE) has suspended EFE Securities and its three securities dealers for alleged conduct that is “detrimental to the integrity of the market”, the bourse said yesterday.
The provisional suspension of membership rights is with immediate effect. It bars EFE Securities, Edgeton Tsanga, Brenda Mwaturura and Coreen Madanha 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, ZSE chief executive officer Justin Bgoni said in a statement.
He said full details of the alleged violations have been formally communicated to the affected members.
“Further, EFE Securities and its authorised representatives shall ensure that all trades that were executed prior to this provisional suspension are cleared and settled in accordance with the rules of the exchange and the relevant central securities depositories. The market will be duly notified of any further developments regarding this matter in due course,” Bgoni said.
