The Capital Markets (Derivatives Markets) Regulations

27. Oversight committees

Edition: 2025-02-14 · In force

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27. Oversight committees

(1)A derivatives exchange shall establish independent oversight committees of the board.

(2)The committees established under subregulation (1) shall—

(a)be chaired by a public interest director; and

(b)address the conflicts of interest in respect of—

(i)the regulation of futures brokers who are derivatives members;

(ii)derivatives contracts design; and

(iii)trading and surveillance functions.

(3)A head of department handling the matters referred to in subregulation (2)(b) shall report directly to the respective committee and to the chief executive officer.

(4)Any action of a derivatives exchange against a head of a regulatory department specified under subregulation (2) (b) shall be subject to an appeal to the respective committee, within such period as the board may determine.

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Source: Kenya Law