The Capital Markets Authority (CMA) is a statutory body, established in 1996 by the Capital Markets Authority Act (Cap 84) as amended, to promote, develop and regulate the capital markets industry. CMA is governed by a Board of Directors appointed by the Minister of Finance, Planning and Economic Development.
The CMA is mandated by law to:
Approve prospectuses and other offering documents under which securities are offered to the public.
Develop the capital markets through removal of impediments and the creation of incentives for longer
term investments in productive enterprises.
Create, maintain and regulate a market in which securities can be issued and traded in an orderly, fair
and efficient manner.
Cooperate with, any foreign regulatory authority in the performance of its duties;
Implement regional and international standards and best practice in securities markets, securities
regulation and supervision.
Protect investors
Operate an investor compensation fund.
The work of the CMA is also governed by the Securities Central Depositories Act, 2009 and the Collective
Investment Schemes Act, 2003.