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High Court ruling gives Capital Markets Authority teeth to nab rogue firms

Justice John Mativo at the high court  PHOTO BY GEORGE NJUNGE

The High Court has rejected an application by global audit firm Ernst and Young to stop the Capital Markets Authority (CMA) from investigating its role in the Uchumi saga.

The ruling, in effect allowing CMA to be the investigator, judge, jury and executioner, may in future lock out rogue litigious players seeking to stop the regulator from investigating them.

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