The Capital Market Authority (CMA) Kenya’s Acting Chief Executive, Mr. Paul Muthaura, has been elected the Vice Chair of the Africa Middle East Regional Committee (AMERC) of the International Organization of Securities Commissions (IOSCO) for a two-year term, starting May 2016. Mr. Muthaura will further continue to serve on the IOSCO Board, to which he was elected in September 2014.
He also currently serves as a member of the Growth and Emerging Markets Steering Committee (GEMSC), which is charged with representing the interests of more than 80 percent of the membership of IOSCO, covering the spectrum of emerging markets including the BRICS, frontier and nascent capital markets. Kenya has been recognized as a key voice in articulating policy concerns unique to emerging markets and is fast gaining recognition as a reference point in discussions around technology innovations within the financial services sector.
Commenting on the appointment, Mr. Muthaura said; ‘’The appointment is a welcome opportunity to take the lead in discussions at the regional level and to influence key policy and global regulatory standards at the IOSCO Board level’’.
Mr. Muthaura added that his election as the AMERC Vice Chair, gives Kenya an opportunity to position the country as a thought leader, given the major strides the country has made in transforming the capital market landscape by facilitating a robust legal and regulatory framework that enhances issuer and investor confidence while encouraging innovation.
