CMA says only tribunal can hear Imperial Bank bond probe

The Capital Markets Authority (CMA) has held that only its tribunal can absolve collapsed Imperial Bank directors of blame in the Sh2 billion bond that the lender issued in August last year, just two months before being placed under statutory management.

The capital markets regulator insists that its tribunal is the legally mandated body to hear and determine whether Imperial Bank’s directors were negligent in the run up to the lender’s floating of the Sh2 billion corporate bond.