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Trader fined Sh166m for fraud

A former CBA Capital bond trader has been fined Sh166.9 million, twice the amount he obtained from rigging fixed income trades in a case of insider trading.

The Capital Markets Authority (CMA) has also banned the trader, David Maena, from holding office as a key officer of a listed company, issuer or licensee of any institution approved by the regulator for a period of 10 years.

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