BSE cracks down on defaulters

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The Botswana Stock Exchange (BSE) is proposing the establishment of a Default Board, where the securities of errant listed companies will be transferred and fined daily, as part of latest rules against non-compliance at the exchange.

The BSE’s new draft listing rules, published last week, are open to feedback from listed companies, brokers and registered advisers who are the targets of the new rules. Other stakeholders are also allowed to feed into the final listing rules, with a cut-off date of May 12.

If approved, the default board will be the BSE’s fourth after the domestic, foreign and venture capital.

Editor's Comment
UDC gov’t should avoid past regime’s pitfalls

High Court Judge, Michael Leburu, said it was a fallacy for the State to say the funds being interest from the funds taken from Seretse and his companies, Khulaco (Pty) Ltd, M & B Properties (Pty) Ltd, belonged to the bank not him to play claim to it.The story presents baffling yet wasteful realities under the previous regime. While litigation by governments is important for upholding the rule of law, ensuring accountability, and fulfilling legal...

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