What is Kenya Capital Markets Authority (CMA)? Kenya Capital Markets Authority (CMA) Review, Features

The Capital Markets Authority of Kenya (CMA) is an independent government financial regulator that plays a key role in the economy by facilitating the mobilization and allocation of capital resources to finance long-term productive investments.

About the Capital Markets Authority (CMA) of Kenya

• The Capital Markets Authority is an independent public body established by Act of Parliament Chapter 485A on National Finance and Planning. The Authority was established on 15 December 1989 when the Act was passed and took office in March 1990.
• The CMA is a regulatory body with primary responsibility for supervising, licensing and monitoring the activities of market intermediaries, including stock exchanges and central depository and settlement systems and all other persons licensed under the Capital Markets Act.

Management Functions

The Authority derives its powers to regulate and supervise the capital markets industry from the Capital Markets Act and the Regulations promulgated thereunder. The Authority’s regulatory functions under the Act and the Regulations include:

• Licensing and supervision of all capital market intermediaries
• Ensure that all licensed persons and market institutions behave properly.
• Regulate the issuance of capital market products (bonds, stocks, etc.)
• Promote market development through research on new products and institutions.
• Promoting investor education and public awareness
• Protecting the interests of investors
• Composition of the Board of Directors

Kenya Capital Markets Authority (CMA) Strategic Objectives

1. Ensure a sound, accommodative and responsive policy and regulatory framework for the development and efficiency of capital markets;
2. Promote the development, diversification and uptake of capital market products and services;
3. ensuring sound market infrastructure, institutions and operations;
4. Leveraging technology to improve efficiency across the capital markets value chain;
5. Ensure optimal institutional efficiency and effectiveness of the CMA; and
6. Enhance strategic influence.

Vision

To be an innovative regulator for robust and globally competitive capital markets.

mission

Make Kenya’s capital markets a top choice for investors and issuers through strong regulation, support for innovation and enhanced investor protection.