Thursday April 30 2015
News Source: Global Exchanges
Focus: Other
Type: General
Country: Kenya
Link: http://www.cma.or.ke/index.php?option=com_content&view=category&layout=blog&id=13&Itemid=130
The Capital Markets Authority of Kenya has announced in a drive to diversify products available in the Kenyan market, the introduction of Exchange Traded Funds (ETFs). This follows the approval by the CMA Board of a Guidance Note to facilitate the introduction of ETFs.
The Guidance Note is a first in the Kenyan markets under a principles-based approval approach under Section 12A Capital Markets Act. This new provision came into force in December 2013 following the enactment of the Capital Markets (Amendment) Act 2013.
The adoption of a principles based approval framework by the Authority brings into operation recommendations of the Capital Market Master Plan with a view to enhancing CMA’s role to fulfil its twin objectives of market development and regulation.
Click on the link above for further details.