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Directors to be held liable for fraud, CMA warns

Capital Markets Authority Chief Executive Paul Muthaura. Directors of Nairobi bourse-listed firms found guilty of false financial reporting and fraud will be held liable as regulators move to restore confidence in the financial sector. (PHOTO: DAVID NJAAGA/ STANDARD)

Directors of Nairobi bourse-listed firms found guilty of false financial reporting and fraud will be held liable as regulators move to restore confidence in the financial sector.  

According to the Capital Markets Authority (CMA), board members will shoulder more responsibility based on their decision-making role in the event financial impropriety is discovered in their firm.

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