Circular - Request for Proposals for Amendment of the Capital Markets (Corporate Governance) (Market Intermediaries) Regulations, 2011

CIRCULAR NO. 08/2024

Date: OCTOBER 14, 2024 TO: ALL CAPITAL MARKETS LICENSEES AND MARKET INTERMEDIARIES RE: REQUEST FOR PROPOSALS FOR AMENDMENT OF THE CAPITAL MARKETS (CORPORATE GOVERNANCE) (MARKET INTERMEDIARIES) REGULATIONS, 2011

The Capital Markets Authority is charged with the mandate of regulating and developing Kenya's capital markets.

In line with the Statutory Instruments Act, Capital Markets Masterplan and the Strategic Plan, the Authority seeks to ensure that the legal and regulatory framework is up to date and responsive to changing market dynamics, technological advancements and emerging stakeholder needs.

As part of our ongoing commitment to ensuring that the regulatory framework remains robust, transparent, and aligned with global best practices, we are initiating a review of the Capital Markets (Corporate Governance) (Market Intermediaries) Regulations 2011.

In line with this, we invite you to submit your proposals for any amendments or improvements to these regulations.

Your insights, as key players in the market, are invaluable to the development of a comprehensive and effective regulatory framework.

We kindly request that your proposals be detailed and supported by relevant data or case studies where applicable.

This will help us understand the practical implications of any suggested amendments and how they might benefit the market.

Kindly submit your comments by October 31, 2024 to:

The Chief Executive Officer Capital Markets Authority P.O. Box 74800-00200 Nairobi 3rd Floor, Embankment Plaza Longonot Road, Upperhill Email: comments@cma.or.ke Website: www.cma.or.ke

We look forward to receiving your valuable input and working together towards a more efficient and transparent market environment.

Thank you for your continued cooperation and support.

Yours sincerely,

FCPA Wycliffe Shamiah CHIEF EXECUTIVE OFFICER