Q FM Africa's Modern Radio
The Securities and Exchange Commission (SEC) has allayed fears of Zambia’s stock exchange market being susceptible to manipulations.
Director Enforcement and Legal Services Diana Sichone says much as any stock market would be susceptible to manipulation her commission has set up as surveillance team to monitor the market.
Mr. Sichone says with this surveillance team SEC is able to know what is going on the market and does institute investigations if it detects any suspicious transaction.
She states that this includes the finding the broker who was behind the transaction and whether such a broker engaged in trading when they had none public but price sensitive information.
Mr. Sichone notes that if such evidence is proved against a broker it is in fact an offence called insider dealing which is punishable through prosecution.