Market News

CMA chief to deputise at global committee

muthaura

CMA chief executive Paul Muthaura. FILE PHOTO | NMG

Capital Markets Authority (CMA) chief executive Paul Muthaura has been elected vice-chairman of a key committee of the International Organisation of Securities Commissions (IOSCO).

He will serve on the Growth and Emerging Markets Steering Committee (GEMC), the largest within the commission representing more than three-quarters of IOSCO’s ordinary members.

GEMC also covers emerging markets of Brazil, Russia, India, China and South Africa (Brics), frontier and nascent capital markets with many of its members showing significant potential for economic growth in the long-term.

“This election cements Kenya’s position as a thought leader, given the major strides the country has made in transforming the capital market landscape by facilitating a robust legal and regulatory framework, and introduction of new products which serve to enhance issuer and investor confidence, while encouraging innovation,” said Mr Muthaura.