The biggest producers of Private Offers are regulated by CMA
In Part 3, I demonstrated that Shamiah was misleading Adan Duale, MP, and Finance Committee when he said Private Offers / Unregulated Products were operating in obscurity. I demonstrated that they are operating in broad daylight and even managing more than regulated collective investment schemes.
In part 5, I now seek to demonstrate that not only are Private Offers operating in broad daylight, but a vast majority of them are arranged, packaged and marketed by entities regulated by CMA. While the offers themselves are not under the ambit of the authority, the arrangers are under the ambit of CMA. How can something being done right inside your house be obscure to you?
(This is important: I have no issue with any private offer or any of the arrangers, not at all. These are important offers that fund businesses, grow the economy and employ Kenyans. They are legal and constitutional as long as they are not marketed to the public.)
My singular issue is picking on one player and misleading a whole parliamentary committee that this one player is engaged in illegal activities, the malice here shines extremely bright!
Someone who can mislead a Parliamentary Committee, just for the sake of targeting specific players, is not Fit and Proper to lead our Capital Markets.