THE Lusaka Securities Exchange (LuSE) has fined Madison Financial Services Plc for breaching various LuSE Listings rules. According to a statement issued by LuSE secretariat, an investigation was conducted into suspected breaches of the LuSE Listings rules by Madison Financial Services. “The Lusaka Securities Exchange Plc (LuSE/Exchange) conducted an investigation into suspected breaches of the LuSE Listings Rules by Madison Financial Services Plc (MFS). The Listing Committee, after considering all the relevant submissions from the Company, found that the Company was in breach of the following: i) Breach of Section 8.62 of the Listings Rules for failure to prepare the Financial Statements in compliance with IFRS. The particular breach relates to the Inadequate Disclosure of the Management Services Agreement between...

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