President William Ruto on Friday, April 21, appointed his lawyer Adrian Kamotho to the Capital Markets Authority (CMA) in a bid to inject new blood into the leadership of the country.
In a Gazette Notice, Treasury Cabinet Secretary Njuguna Ndung'u appointed Ruto's Lawyer Adrian Kamotho as the Chairman of the Capital Markets Tribunal.
"In exercise of the powers conferred by section 35A (1) (a) of the Capital Markets Authority Act, the Cabinet Secretary for the National Treasury appoints Adrian Kamotho Njenga to be the Chairperson of the Capital Markets Tribunal," read part of the Gazette Notice.
Kamotho was appointed for a term of three years, with effect from Thursday, April 20, 2023, to 2026.
The Capital Markets Tribunal plays a crucial role in maintaining the integrity of the capital markets in Kenya, and in protecting the interests of investors.
It also plays a quasi-judicial body that plays an important role in regulating and overseeing the capital markets in Kenya.
Capital Markets Tribunal's main functions include adjudicating disputes such as hearing and determination of disputes arising from the capital markets including disputes between market intermediaries, investors, and regulators.
This helps to ensure that disputes are resolved fairly and efficiently, which in turn promotes investor confidence in the capital markets.
Kamotho will also oversee the enforcement of the securities laws and regulations that govern the capital markets in Kenya.
He will also ensure that market participants comply with the rules, which promotes transparency and fairness in the markets.
The Tribunal equally is responsible for protecting the interests of investors in the capital markets.
As such the chairman of the tribunal will steer his team to ensure that market intermediaries act in the best interests of their clients and that investors have access to accurate and timely information about the securities they are investing in.
Kamotho was one of the 57 Lawyers who represented Ruto during a Presidential Petition in which Azimio la Umoja Leader Raila Odinga challenged his win.
Ruto won the Supreme Court case and was duly sworn in as the fifth President of the Republic of Kenya.
