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NEWS & CURRENT AFFAIRS

The Nairobian

Kenyans can now blow whistle on capital markets fraud

News

By James Wanzala | Jul 19, 2016

NAIROBI: The Capital Markets Authority has launched a portal for anonymous reports on malpractices in the trade of equities and debt instruments.

The regulator said the portal would create new avenues to receive constructive tips that would help ensure the capital market runs at the highest level of integrity.

“The portal, which will be accessed through the authority’s website, will give whistleblowers an opportunity to share anonymous but verifiable evidence with the potential to complement and support CMA’s investigation and enforcement efforts,” CMA Chief Executive Paul Muthaura said at the launch yesterday.

Further information

The portal enables whistleblowers to indicate the nature of the malpractice or allegation; the place, date and time of its occurrence; information on key suspects; and details of people who can verify or provide further information.

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Whistleblowers will be required to attach supporting documentation to assist with investigations, and are at liberty to share their contact details or remain anonymous.

CMA said it hopes the portal will strengthen market confidence and ensure failures in integrity are responded to in a timely manner.