dc.contributor.author | Gakeri, Jacob K | |
dc.date.accessioned | 2015-04-09T10:12:45Z | |
dc.date.available | 2015-04-09T10:12:45Z | |
dc.date.issued | 2012-10 | |
dc.identifier.citation | Gakeri, Jacob K._2012). Regulating Kenya’s securities markets an assessment of the capital markets authority’s enforcement jurisprudence. International Journal of Humanities and Social Science, 2(20); PP. 265-291 | en_US |
dc.identifier.uri | http://www.ijhssnet.com/journals/Vol_2_No_20_Special_Issue_October_2012/25.pdf | |
dc.identifier.uri | http://hdl.handle.net/11295/81964 | |
dc.description.abstract | The importance of an optimal regulatory and enforce
ment matrix in enhancing securities markets cannot
be
overemphasized. Countries with deep and vibrant sec
urities markets generally have effective regulatory
and
enforcement philosophies. This paper seeks to chara
cterize the regulatory and enforcement paradigms of
Kenya’s
securities markets in the context of the global reg
ulatory and enforcement philosophies. From the anal
ysis, it is
evident that the regulatory paradigm is indissolubl
y government or national with nominal self-regulati
on.
Although the statutory framework enshrines self-reg
ulation, the relevant provisions are ambiguous and
remain
ineffectual. The notion of self-regulation remains
an illusion. The regulator enjoys plenary legislati
ve and
supervisory powers over market intermediaries and l
isted companies without being subject to meaningful
accountability mechanisms. Amendments to the Capita
l Markets Act and its Regulations have consolidated
the
Capital Markets Authority’s position as a paramount
regulator. Finally, the enforcement history of the
Capital
Markets Authority discloses no decipherable philoso
phy. Enforcement actions have been intermittent and
reflect
no imperatives
. | en_US |
dc.language.iso | en | en_US |
dc.publisher | University of Nairobi | en_US |
dc.title | Regulating Kenya’s securities markets an assessment of the capital markets authority’s enforcement jurisprudence | en_US |
dc.type.material | en_US | en_US |