Regulatory Alerts2022-01-01
Capital Markets (Whistleblower) Regulations 2022
These regulations establish a formal framework for whistleblowers to report misconduct to the Capital Markets Authority, offering financial rewards for information leading to the recovery of penalties or illicit gains. Eligible whistleblowers must provide new, authentic, and relevant information that directly contributes to successful enforcement actions, with rewards capped at three percent of the recovered sum or five million shillings. The framework mandates confidentiality for the whistleblower's identity and provides a specific application process for those seeking compensation, while explicitly disqualifying individuals involved in prior reporting obligations or those convicted of related criminal offenses.
Share