CMA introduces yearly Continuous Professional Development Programme
The programme will be undertaken by employees of capital market intermediaries or anyone who deals with clients on behalf of CMA
By Caroline Theuri
The Capital Markets Authority (CMA), a regulatory agency that supervises Kenya’s capital markets industry, has introduced a training programme dealing with securities so as to enhance more professionalism in the capital markets.
According to Paul Muthaura, the Chief Executive of CMA, the target market for the Continuous Professional Development Programme are employees of capital market intermediaries or anyone who deals with clients on behalf of CMA, whether directly or indirectly.
The CPD training programme, which has been approved by the regulator, will be undertaken annually and comprises of two parts, taking up a total of 35 hours, the first 2e4 hours of which will be structured. The remaining 11 hours will not be structured.
The training is being undertaken partly due to lack of transparency on how some companies operate, pointing to the effect of lack of corporate governance training for such intermediaries from the companies that have been listed on the Capital Markets Authority.
The CMA's endeavour to introduce more professionalism in the industry was also exhibited last week when the authority said it would introduce the Capital Market Regulations. The regulations are, however, still at a draft stage.
Once operationalized, the regulations will address issues such as licensing, trading and operationalisation of the Commodities Exchange Market