The Capital Markets (Corporate Governance) (Market Intermediaries) Regulations

6. The Board

Edition: 2022-12-31 · In force

6. The Board

(1)A market intermediary shall have a board that shall lead, control and shall be collectively responsible for the conduct and governance of its securities business.

(2)The board shall provide leadership within a framework of prudent and effective control that facilitates risk assessment and management.

(3)The board shall ensure that the necessary financial and human resources are available to meet its objectives and review management performance.

(4)The chairman of the board shall not be appointed as the chief executive officer of a market intermediary, and board shall specify the roles and responsibilities of the chairman and chief executive, in writing.

(5)The chairman of the board shall be a non-executive director.

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Source: Kenya Law