CMA cautions against employment fraudsters

CMA cautions against employment fraudsters

Nairobi February 01, 2016…The Capital Markets Authority (CMA) has cautioned members of the public against fraudsters posing as recruitment consultants for the ten management trainee positions that the regulator advertised through local newspapers in January 2016. CMA clarified it has not hired any external recruitment consultant for the advertised positions and no fee is being charged, contrary to the information being presented by the fraudsters.

The Authority confirmed that the application period for the vacancies closed on 29 January, 2016 and review and short listing of candidates is ongoing. Members of the public can seek further clarification from the Human Capital and Administration Department at CMA on 2264900.

ENDS

BACKROUND INFORMATION ON THE CAPITAL MARKETS AUTHORITY

The Capital Markets Authority (CMA) was set up in 1989 as a statutory agency under the Capital Markets Act Cap 485A. It is charged with the prime responsibility of both regulating and developing an orderly, fair and efficient capital markets in Kenya with the view to promoting market integrity and investor confidence. The regulatory functions of the Authority as provided by the Act and the regulations include; Licensing and supervising all the capital market intermediaries; Ensuring compliance with the legal and regulatory framework by all market participants; Regulating public offers of securities, such as equities and bonds & the issuance of other capital market products such as collective investment schemes; Promoting market development through research on new products and services; Reviewing the legal framework to respond to market dynamics; Promoting investor education and public awareness; and Protecting investors’ interest. For further press information, please contact: Antony Mwangi, Head of Corporate Communications, on Email: amwangi@cma.or.ke or 0722825227