The regional capital markets regulators under the East African Securities Regulatory Authorities (EASRA) deliberated on various initiatives to enhance regional integration with a view to promote capital markets.
During the 42nd Consultative Committee meeting, held in Nairobi from 6th to 8th July 2015, the regulators deliberated on supervisory colleges, industry certification, risk-based supervision, harmonisation of continuous disclosure requirements, regional capacity building programmes and introduction of book building regulations in some member states.
On initiatives to put in place book building regulations it was agreed that an appropriate balance be considered to ensure that the process supports both transparent exits and public offers of securities in the capital markets.
SEE ALSO: CONDOMS FIRM SEES KENYA AS A VIRGIN MARKET
The Consultative Committee approved the fast – tracking of the adoption and implementation of risk based supervision among all regulators in the region. In order to ensure timely and efficient analysis of financial information, the regulators supported the adoption of systems for online submission of financial statements.
In order to enhance financial reporting and disclosure requirements across the region, the regulators will partner with other domestic stakeholders to continue promoting financial reporting awards and scale them up to the regional level.
The regulators agreed to work together and conduct joint inspections as well as fit and proper tests on regulated persons. The regulators agreed to the development of adequate plans for crisis management and putting in place proper crisis management framework for the capital markets supporting regional systemic stability.
NEXT READ: BRITAM EYES HOUSING FINANCE TAKEOVER
Leave a comment