The Zimbabwe Stock Exchange (ZSE) has with immediate effect cancelled the license of brokerage firm, First Securities Private Limited from the exchange citing failure by the company to fulfill membership obligations.
The ZSE however, did not specify the obligations the broker failed to meet and efforts by this publication to get a comment from the company were fruitless.
“The Zimbabwe Stock Exchange (“ZSE”) informs members of the investing public that it has cancelled First Securities Private Limited (“First Securities”)’s membership with immediate effect,”
“First Securities has failed to fulfill membership obligations as prescribed in the ZSE Membership rules. The cancellation of its membership was done pursuant to the provisions of the ZSE Membership rules,” said ZSE chief executive officer, Justin Bgoni.