On November 21, 2018, the Capital Markets Authority (CMA) and the National Council for Law Reporting, known as Kenya Law, unveiled their first joint case digest on capital markets decisions delivered by Kenyan courts.
The publication brings together 27 decisions and sets out key milestones in the sector’s legal history. It covers a ten-year span from 2008 to 2018 and groups the material into seven categories: civil cases, civil appeals, constitutional petitions, judicial review applications, miscellaneous applications, civil suits and criminal cases.
During the handover ceremony, CMA chief executive Paul Muthaura said the sector is governed by specialized statutes, rules, regulations, best practices and procedures that keep evolving to support market development and investor protection. He added that the digest should help clear up “myths and misconceptions on the operations of capital markets.”
Kenya Law chief executive Long’et Terer said the judiciary relies on earlier decisions when resolving similar disputes and that tracking those rulings remains an important part of Kenya’s legal tradition. He noted that courts continue to issue numerous judgments, decisions and opinions every day.
The digest is expected to become a regular publication. According to the institutions, some of the highlighted matters are still before appeal courts.
CMA and Kenya Law said the reference work is meant to guide legal practitioners, judges, judicial officers, scholars, investors, institutions and individual market participants on how courts have handled disputes arising from capital markets regulation.
