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Top jobs on the line as financial services regulators are merged
From left, CMA chief executive Paul Muthaura, IRA chief executive Sammy Makove and Edward Odundo, chief executive of the Retirement Benefits Authority. PHOTOS | FILE
The Treasury has published a Bill creating a single regulatory agency for the financial services sector, putting chief executives of four regulatory agencies and their boards en-route to losing their plum jobs.
The Bill, which proposes to merge the Capital Markets Authority (CMA), the Retirements Benefits Authority (RBA), the Insurance Regulatory Authority (IRA) and Sacco Societies Regulatory Agency (Sasra) into the Financial Sector Authority (FSA), has been in the works for the past three years.
