My preference would be for CMA to think like an investor. If Abroker has no cash, they'll use my cash to pay their staff. SO suspend their licences untill they can sort out their liquidity issues. 2ndly, please get brokers to publish quarterly financial statements. Insurers have to do it, all banks have to do it. Kwani whats special about brokers?
For the brokers:
- Stop employing everybody and your relas. Get a working online brokerage system. Its initially expensive but cheaper in the long-run.
- Pride comes before a fall. You know, we know and everybody who needs to knows a broker licence isn't worth Ksh250mn. It wasn't worth that much even in the bull days.
- Find partners: Banks have something you don't have. Distribution networks. They'll fill the gap.