How to Resolve Issues with Share Trading in Kenya (Brokers, Apps & CMA)

Investing at the Nairobi Securities Exchange (NSE) is safe and well-regulated. However, from time to time, investors may face challenges such as delayed trades, incorrect balances, missing dividends, app errors, or account access issues.

The key is knowing who to escalate to and in what order. Escalating correctly saves time and ensures faster resolution.

Below is the proper escalation framework for resolving share trading issues in Kenya.

1. Start with Your Broker’s Relevant Department

Your stockbroker is always the first point of contact.

Depending on the issue, reach out to the appropriate department:

Customer Service / Operations – trade execution, statements, balances, dividends
IT / Digital Support – trading app or online platform issues
Accounts / Settlements – payments, refunds, or reconciliation

📌 Most issues are resolved at this level.

2. Escalate to Risk & Compliance Department

If the issue is not resolved or is mishandled, escalate internally to the broker’s:

Risk Department
Compliance Department

This step is critical.

⚠️ Important:

No licensed broker wants matters to reach risk & compliance unresolved. At this level:

The issue becomes a regulatory exposure
Internal investigations are triggered
Resolution is usually fast and serious

3. Escalate to Executive Management (CEO / Executive Office)

If the issue still persists:

Write formally to the CEO or Executive Office
Attach all prior correspondence and evidence

At this stage:

Brokers treat the matter as high-risk
Most cases are resolved immediately to avoid regulatory escalation

📌 Very few issues survive beyond this point.

4. Final Step: Lodge a Complaint with the CMA

If all internal escalation fails, you have no other option but to report the matter to:

Capital Markets Authority (CMA)

➡️ Kenya’s market regulator and enforcement authority

Submit:

Full complaint details
Email trails
Statements
Screenshots
Transaction references

⚠️ Why brokers fear this stage

CMA has power to impose penalties, sanctions, suspensions, and fines
CMA acts as both regulator and market court for brokers
No broker wants unresolved issues to reach CMA

Role of Other Market Institutions

It’s important to understand where other players fit in:

CDSC (Central Depository & Settlement Corporation)

Can assist with verification
Will still refer complaints to your broker or CMA

NSE (Nairobi Securities Exchange)

Provides market oversight
Will also redirect disputes to the broker or CMA

👉 These institutions do not replace the broker–CMA escalation path.

Issues Involving Third-Party Trading Apps

Examples: Dosika, MyStocks, and other non-broker-specific platforms.

If the issue relates to:

App malfunction
Display errors
Sync delays

Start with:

App Developer / Support Team

If unresolved and the issue affects trades, holdings, or account balances:

➡️ You must still follow the same escalation path:

Broker → Risk & Compliance → CEO → CMA

Investor Protection at the NSE

✅ All shares traded at the NSE are fully regulated and protected under CMA rules
✅ Investor rights are enforceable
✅ There is always a formal resolution path

The key is to follow the correct escalation order and keep proper records.