The Capital Markets Authority

The Capital Markets Authority (CMA) is an independent public agency created under the Cap 485A by an Act of Parliament; it operates under the National Treasury and Economic Planning.

The Authority has the power to supervise, license, and monitor market intermediaries, which include the Stock Exchange and the Central Depository and Settlement Corporation (CDSC).

Apart from the above, the CMA also regulates all persons licensed under the Capital Markets Act, including online forex brokers, commodity traders, and regulated exchanges.

The CMA has several regulatory functions, as outlined in the Capital Markets Act and its associated regulations.

Some of these are:

• Licensing and supervision of capital market intermediaries

• Conduct of licensed market participants and institutions

• Issuance Regulation of capital market products

• Market Development Research into new financial products and institutional development

• Investor education and improved public awareness

• Investor protection

Vision

To be a trusted regulator of an inclusive and transparent capital market.

Mission

To regulate and promote the orderly, fair, and efficient capital and commodities markets while protecting the interests of all stakeholders.

Leadership and Governance

The Board of CMA provides overall policy direction and leadership to the Authority.

The Board's primary role is to protect the interests of investors, the government, employees, issuers of securities, and market intermediaries.

Strategic Plan

The CMA's Strategic Plan 2023–2028 outlines the CMA's strategic direction for the next five years.The Strategic Plan aims to regulate and then develop capital and commodities markets in Kenya.

Importantly, it includes a focus on market inclusivity, determining suitable institutional sustainability arrangements, achieving operational excellence, and agility in responding to emergent issues.