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{
    "id": 319605,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/319605/?format=api",
    "text_counter": 393,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "have created a suitable environment for mobilization of long term resources to finance investments or projects necessary for a long term growth and economic development under Vision 2030. The measures I have proposed in the Capital Markets (Amendment) Bill, 2012, are aimed at further deepening the capital markets as well as tapping international sources of capital. I will only highlight a few of the proposals as hon. Members will have the opportunity to debate the entire Bill during the Committee Stage. I am seeking to enhance the capacity of the Capital Markets Authority (CMA) to co-operate with other regulatory organizations, both locally and internationally, in order to strengthen the orderly supervision of increasingly interconnected capital markets. In this regard, I have proposed to amend the Capital Markets Act to empower the Authority to provide assistance to other local and foreign financial regulators by exercising any of its powers under the Act. This assistance will be subject to the regulatory body requesting for assistance and being willing to promote reciprocal assistance within its jurisdiction in response to a similar request for assistance from Kenya. This measure will enhance the investigatory powers of the Authority and hence bolster foreign investor confidence in our market as we seek to leverage on international synergies in the regulation of capital markets."
}