The Capital Markets Authority (CMA) has launched a new financial reporting system for the periodic submission of Risk Based Capital Adequacy (RBCA) returns and financial statements by licensed intermediaries such as stockbrokers, investment banks, fund managers, and forex brokers.
The new financial reporting system, which replaces the old platform, requires licensed intermediaries to submit monthly RBCA returns and management accounts within fifteen days at the end of each calendar month. Annual RBCA returns and audited financial statements are required to be prepared and submitted within three months after year-end.
The new system is expected to enhance transparency, accountability, and financial stability in Kenya’s capital markets. It underscores CMA’s commitment to modernize oversight, deepen confidence in Kenya’s capital markets, while putting it at par with global best practices.
CMA’s old financial platform
In the old platform, intermediaries prepared and uploaded reports to CMA’s portal for review. It primarily served as a document repository, with limited automation and heavy dependence on manual regulatory follow-ups.
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