CMA automates surveillance system
19 October 2011, 12:00
Nairobi – Capital News reports that plans are underway to automate the surveillance system for the Capital Markets Authority (CMA) activities in the capital markets.
This move by the CMA is in a bid to implement risk based supervision at the capital markets as they strive to improve efficiency and protect investors by allowing the regulator to continuously monitor activity of stockbrokerage firms and their intermediaries.
The CMA Chief Executive Officer Stella Kilonzo said that other than us undertaking a manual approach, we also want to be in line with automated auditing, which means automated inspections so that any of our inspectors can at any time have access to monitor and ask certain questions and input into that particular system.
It is the hope of the CMA to restore investor confidence in a market where a number of stockbrokers have collapsed and are unable to reimburse investors.
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