ADVOKS GLOBAL · KENYA
The Capital Markets (Corporate Governance) (Market Intermediaries) Regulations
17. Chief executive officer
Edition: 2022-12-31 · In force
17. Chief executive officer
(1)The chief executive officer of a market intermediary shall be responsible to the board for the day to day running of the market intermediary and shall—(a)implement the policies and the corporate strategy developed by the board;(b)identify and recommend to the board the employment of officers who are competent to manage the operations of the market intermediary;(c)co-ordinate the operations of the departments within the market intermediary;(d)establish and maintain efficient and adequate internal control systems for the management of the market intermediary;(e)design and implement management information systems necessary to facilitate efficient and effective communication within the market intermediary;(f)regularly appraise the board adequately on the operations of the market intermediary; and(g)ensure that the market intermediary complies with the Act and other relevant laws.(2)A market intermediary shall not change its shareholders, directors, chief executives or key personnel except with the prior confirmation, in writing, by the Authority that it has no objection to the proposed change and subject to compliance with any conditions imposed by the Authority.