ABOUT CAPITAL MARKETS AUTHORITY
The Capital Markets Authority (CMA) is an independent public agency established by an Act of Parliament, Cap 485 A under the National Treasury and Econimic Planning. CMA is charged with the prime responsibility of supervising, licensing and monitoring the activities of market intermediaries, including the Stock Exchange and the Central Depository and Settlement Corporation(CDSC). It also regulates all licensees under the Capital Markets Act, including Online Forex, Commodities and Regulated Exchanges.
Who We Are
The regulatory functions of the Authority as provided by the Act and the regulations include the following:
- Licensing and supervising all the capital market intermediaries
- Ensuring proper conduct of all licensed persons and market institutions.
- Regulating the issuance of the capital market products
- Promoting market development through research on new products and institutions.
- Promoting investor education and public awareness
- Protecting investors’ interest
- Composition of the Board
The Board provides the overall policy direction and leadership to the Authority. The primary responsibility of the board is the protection of the interest of investors, the government, employees, issuers of securities and the market intermediaries.
The board of directors of the Authority are;
- A Chairman appointed by the President ;
- Six other members appointed by the Cabinet Secretary, National Treasury and Economic Planning;
- The Cabinet Secretary of the National Treasury and Economic Planning or a person deputed by him;
- The Governor of the Central Bank of Kenya or a person deputed by him;
- The Attorney General or a person deputed by him;
The Chief Executive of the Authority, who serves for a four-year term and is eligible for re-appointment for another four-year term.
The chairman and the six members serve for a period of three years and are eligible for re-appointment for another three years. The Authority, led by the Board of Directors and supported by the Chief Executive Officer together with the management, carries out its mandate of regulating and developing the capital markets through a regulatory framework. For more information on the regulatory framework click on;
