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Regulator spells out tough penalties for errant CEOs, boards
Capital Markets Authority chief executive Paul Muthaura (left) with ICPAK chief executive Patrick Ngumi (centre) and PwC Partner Michael Mugasa during a forum for CEOs, chief financial officers and auditors in Nairobi on September 1. PHOTO | DIANA NGILA
CEOs and directors in about two months face tough penalties after the Capital Markets Authority (CMA) moved to crack down on errant players through enhanced rules and regulations on governance and portfolio management.
Key among the rules and regulations is the new corporate governance code for listed firms, which replaced the guidelines on corporate governance practices that had been in force since 2002.
