The Capital Markets Authority (CMA) and Central Depository and Settlement Corporation Limited (CDSC) has issued a statement to assure investors that their securities which were held by Genghis Capital are in safe custody. This comes after the Central Bank Of Kenya placed Genghis Capital Parent company (Chase Bank) under receivership for the next 12 months.
Genghis Capital, which is also licensed and regulated as an Investment Bank by the Capital Markets Authority (CMA) also issued a statement on Friday to assure investors that their investments were safe.
“CMA and CDSC would like to clarify that the securities held in the respective CDS accounts by any CDA including Genghis in respect of customers are in the custody of the Central Depository and Settlement Corporation (CDSC) and not the CDA itself. Investors are therefore assured that their securities are in safe custody.” Read the statement.
“We are engaging with the Board and Management of Genghis to assess the impact of the developments at Chase Bank (Kenya) Limited on the operations of Genghis in the interest of the investing public.”