HARARE – The Zimbabwe Stock Exchange (ZSE) has taken immediate action to provisionally suspend the membership rights of three securities dealers and one firm pending a hearing into alleged misconduct.
In an official notice, the ZSE announced that the affected members, namely EFE Securities (Private) Limited, Mr. Edgeton Tsanga, Ms. Brenda Mwaturura, and Ms. Coreen Madanha, are barred from acting as securities dealers or engaging in any activities that are typically conducted by duly admitted members of the Zimbabwe Stock Exchange.
The suspension was implemented due to allegations that their conduct was detrimental to the integrity of the market.
The ZSE has communicated the details of the alleged violations to the affected members, and the provisional suspension takes effect immediately.
EFE Securities and its authorized representatives are required to ensure that any trades executed prior to the suspension are cleared and settled in accordance with the exchange’s rules and relevant central securities depositories.
The ZSE has stated that further updates regarding this matter will be provided to the market in due course.