CMA engaging Genghis Capital Ltd on the unmet contractual obligations

Nairobi 22 January 2025… In line with its investor protection mandate, the Capital Markets Authority (CMA) is engaging Genghis Capital Limited to get a roadmap on how the firm intends to address the outstanding debt owed to its stakeholder.

CMA would like to clarify that clients’ assets are held in segregated accounts separate from the funds of Genghis Capital Limited.

The operations of the Genghis Unit Trust Scheme are regulated under the Capital Markets (Collective Investment Schemes) Regulations 2023, which require clear separation of the roles of the fund manager from those of the custodian and trustee.

Client assets managed under the Genghis Money Market Fund and Mali Money Market Fund are held by a duly authorized custodian and oversighted by an independent trustee.

ENDS

BACKGROUND INFORMATION

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. CMA also regulates the commodity markets and online forex trading. 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 more information, please contact: Antony Mwangi, Manager Corporate Affairs & International Relations on amwangi@cma.or.ke