• Home
  • Business News
  • Weekly Reviews
  • Market Reports
Saturday, May 31, 2025
  • Login
  • Home
  • Business News
  • Weekly Reviews
  • Market Reports
  • Global Markets
  • Commodities
  • Corporate News
No Result
View All Result
The Trading Room
  • Home
  • Business News
  • Weekly Reviews
  • Market Reports
  • Global Markets
  • Commodities
  • Corporate News
No Result
View All Result
The Trading Room
No Result
View All Result
Home Business News

CMA Stops Cytonn Asset Managers Limited From Recruiting New Clients

Trading Room Reporter by Trading Room Reporter
in Business News
Reading Time: 1 min read
A A
0
Cytonn CMA

Edwin H. Dande, CEO at Cytonn Investments Limited.

Share on FacebookShare on Twitter

The Capital Markets Authority (CMA) has directed Cytonn Asset Managers Limited, a licensed fund manager, to stop signing new clients immediately.

RELATED POSTS

Asian Markets Post Gains After Weeks of Drop As Trade Wars Hold

Stanbic Bank Launches Platform to Enhance Access to Chinese Markets

Oil Prices Soar as Iran fires missiles at Israel

This is until it changes the names of its business and related products. The regulator says the move seeks to enhance investor protection and confidence in the integrity of the capital markets.

The Authority said the change of name of the licensed fund manager and the regulated products it offers to the public will eliminate confusion caused by similar products provided by the unlicensed Cytonn Investments Management Limited.

Also Read: Cytonn Back to Limelight as Investors Cry Foul Over High Yield Fund

According to CMA Chief Executive Wycliffe Shamiah, the directive has been taken to enable the investing public to distinguish between regulated products and those from the unregulated entity.

@CMAKenya has directed Cytonn Asset Managers Ltd (a licensed fund manager) @cytonnasset to change its business name and the name of the regulated products or stop signing up any new clients. Read the full statement here: https://t.co/86sK7pohAo

— Capital Markets Authority Kenya (@CMAKenya) August 6, 2021

The period for Cytonn Asset Managers to stop onboarding clients will be in effect for three months or when the fund manager will fully comply with the directive to change names of the business and its regulated products.

Buy JNews
ADVERTISEMENT

According to Abubakar Hassan, CMA’s Director of Market Operations, investigations on Cytonn revealed that the whole activity it was involved in resembles fund management.

“They have an entity that does real estate and another one that collects money from the public to fund the real estate business. There is a mismatch because cash collected from the public is short-term ( six months to one year) while real estate investment is long term,” said Hassan in a recent interview.

Jackson Okoth from The Kenyan Wallstreet contributed to this article.

 

Post Views: 1,091
Tags: Capital Markets AuthorityEdwin Dandespotlight
Previous Post

Kenya Re’s Half-Year Profit Drops by 66% to Kes 533.7 Million

Next Post

Global Markets Weekly Review: Week 31, 2021

Trading Room Reporter

Trading Room Reporter

Related Posts

Global Markets Asian markets
Business News

Asian Markets Post Gains After Weeks of Drop As Trade Wars Hold

by Rennie Odek
Muya Guo Head of Chinese Segment at Stanbic Bank Kenya
Business News

Stanbic Bank Launches Platform to Enhance Access to Chinese Markets

by Felix Ochieng
Brent Crude Oil Prices WTI
Business News

Oil Prices Soar as Iran fires missiles at Israel

by Githere Eddie
Kakuzi logo
Business News

Kakuzi Plc Joins the List of NSE Firms Issuing Profit Warning for 2023

by Felix Ochieng
Next Post
Global Markets

Global Markets Weekly Review: Week 31, 2021

china vietnam oil

Oil Prices Drop as China's Rising Covid-19 Cases Raises Concerns on Demand

Asia Shanghai Exchange

Asian Markets Mostly Flat; Shanghai Composite Gains 1.05%

Advertisement Banner Advertisement Banner Advertisement Banner
ADVERTISEMENT

Most Viewed Posts

  • Tea Farmers Set to Receive Kes 28 Billion as Final Bonus Payment (4,110)
  • 4 Things You Can Do With the Cashlet App to Achieve Your Financial Goals (2,202)
  • Hilda Njeru Takes over at CDSC (2,070)
  • Safaricom Finally Launches eSIM: Here’s What You Need to Know (1,923)
  • KenGen Gets Nod to Sell 4 Million Tonnes of Carbon Credits (1,809)

Follow Twitter

About Us

Follow Us

Popular Tag

Africa Asian - Pacific Stocks Asian Stock Markets Australian Stocks Bitcoin Bonds Kenya Bonds Trading in Kenya Brent Brent Crude Capital Markets Authority Central Bank of Kenya Corona Virus Pandemic Crude Oil Cryptocurrencies Derivatives NSE Derivatives Trading in Kenya Dow Jones Industrial Average Ethereum European Stock Markets Global Economy Global Markets Hang Seng Index Investing in Kenya Investor Briefing Jakarta Stock Exchange Kenya Economy Kospi index MSCI Index Nairobi Securities Exchange NASDAQ New York Stock Exchange Nikkei N225 NSE Oil Futures S&P 500 Index Safaricom Plc Shanghai Composite Shenzhen component spotlight Stock Market Report Stock Market Review U.S. Stock markets US oil Wall Street WTI Oil Index

Recent News

Equity Group

Equity Group Q1 Profit Falls 4pc to KES 15.4bn

Cynthia Kropac(R) Chief Enterprise Business Officer Safaricom PLC receives H.E. Minister of Communications and Technology in Somalia - Mohamed Adam to the Safaricom Business Booth. Looking on is H.E. Hon. William Kabogo, Cabinet Secretary, Ministry of Information Communication and Digital Economy in Kenya - during the ongoing Connected Africa Summit 2025 Launch.

Safaricom to Invest KES 500Mn in Bid to Bolster AI Infrastructure

  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2025 The Trading Room Limited.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
TSLA 
$346.46  3.34%  
GME 
$29.80  0.78%  
MSFT 
$460.36  0.37%  
AAPL 
$200.85  0.45%  
AMC 
$3.56  4.09%  
ABNB 
$129.00  0.50%  
GOOGL 
$171.74  0.07%  
AMZN 
$205.01  0.34%  
No Result
View All Result
  • Home
  • Business News
  • Weekly Reviews
  • Market Reports

© 2025 The Trading Room Limited.

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?