Over the past few weeks, there have been social media reports on online news outlets in relation to the nature in which the Capital Markets Authority (CMA) executes its functions suggesting that staff of the Authority solicit funds to fast track applications, an allegation that we do not take lightly.
CMA is governed by core values namely; integrity, teamwork, accountability and excellence, which are enshrined in our strategic plan, and as an entity charged with maintaining confidence so that the financial system continues to deliver value to the public, the Authority has a strict code of conduct that governs all staff while executing their duties and roles.
The Authority has a well laid out Client Service Charter which stipulates some of the services we offer and the time lines within which these services are offered. Additionally, adherence to the charter is periodically audited and reports are submitted to the Board of the CMA.
The Authority therefore strongly refutes these allegations and informs prospective applicants for approvals or licenses, that all our processes and activities are strictly guided by internal procedures and industry regulations, compliance to which is regularly audited.
CMA prides itself in the highest level of integrity and acts ethically, working in the public interest, and treating people fairly and honestly.
We will continue to implement our mandate as provided by the law to ensure investors are protected.