Capital Markets Authority

The Capital Markets Authority (CMA) is an independent public agency established under the National Treasury and Economic Planning through Cap 485 A of Parliament. It serves as the primary regulatory body for capital markets in Kenya, including oversight of the Stock Exchange, Central Depository and Settlement Corporation, and various market intermediaries. CMA's core functions include licensing and supervising capital market intermediaries, regulating capital market products, promoting market development through research, conducting investor education, and protecting investor interests. The authority also oversees Online Forex, Commodities, and Regulated Exchanges while ensuring proper conduct of all licensed entities. The organization is governed by a Board of Directors comprising a President-appointed Chairman, six members appointed by the Cabinet Secretary of National Treasury, and ex-officio members including representatives from the National Treasury, Central Bank, and Attorney General's office. The Chief Executive serves four-year renewable terms, while board members serve three-year renewable terms, all working together to provide policy direction and leadership focused on protecting stakeholder interests.