CMA and Kenya Law publish Capital Markets Case Digest

The Capital Markets Authority and National Council for Law Reporting (Kenya Law) have published the first joint case digest of 27 markets decision delivered by Kenyan courts which summarises critical milestones in the capital markets

The digest which covers a ten-year period from 2008 to 2018 covers seven categories including; civil cases, civil appeals, constitutional petitions,judicial review applications, miscellaneous applications, civil suits and criminal cases.

Speaking during the handover ceremony, CMA’s chief executive Paul Muthaura noted: “The capital markets, both domestically and globally, are highly specialized and governed by distinct statutes, rules, regulations, best practices and procedures which are continuously evolving to promote market development and secure investor protection. The Authority trusts that this Digest will go a long way to demystify some of the myths and misconceptions on the operations of capital markets.”

Kenya Law’s CEO Long’et Terer said: “Kenya’s judicial system lays emphasis on previous decisions as a guide to the resolution of future similar disputes. The cataloguing and tracking of these decisions is therefore a critical aspect of Kenya’s legal traditions and systems especially currently when there are numerous judgements, decisions and opinions that are issued by the courts of record on daily basis.”

The Digest is intended to become a regular publication noting that a number of the highlighted cases are currently the subject of appeals.

It is expected to serve as a valued reference point in guiding all players in the capital markets, especially legal practitioners, judges and judicial officers, scholars, investors, institutions and individuals on how disputes arising from regulation of capital markets have been dealt with by the Courts.