On August 29, 2019, the Capital Markets Authority (CMA) announced significant progress in its ongoing probe into illicit forex traders, vowing to take decisive action against those found culpable.
CMA Chief Executive Paul Muthaura emphasized that unregulated forex traders pose a significant threat to Kenyans' hard-earned money, and that strict regulation is necessary to safeguard their interests.
“Forex traders must come under regulation via licensing and their activities frequently monitored by the CMA which will help safeguard Kenyans’ against theft or loss of their hard-earned money,” he said.
As part of its efforts to strengthen the capital market, the CMA also signed a pact with the Institute of Certified Investment and Financial Analysts (ICIFA) to develop academic courses aimed at enhancing capacity in the market.
