The Capital Markets Authority Popular
8th Floor, Jubilee Insurance Centre 14 Parliament Avenue Postal Address P. O. Box 24565, Kampala
The Capital Markets Authority (CMA) was established in 1996 following the enactment of the Capital Markets Authority Statute 1996.
It is an autonomous body responsible for promoting, developing and regulating the capital markets industry in Uganda, with the overall objectives of investor protection and market efficiency.
Functions of CMA
Under the Statute, the functions of CMA include the following:
The development of all aspects of the capital markets with particular emphasis on the removal of impediments to, and the creation of incentives for longer term investments in productive enterprises.
The creation, maintenance and regulation, through implementation of a system in which the markets participants are self regulatory to the maximum practicable extent, and of a market in which securities can be issued and traded in an orderly, fair and efficient manner.
The protection of investor interests.
The operation of a compensation fund
The CMA is governed by a Board of Directors, which formulates policies for the Authority. Committees of the Board have been set up to deal with specific aspects of policy, for instance Legal, Policy and Compliance; Finance and Administration, Research and Market Development and Audit. The day-to-day operations of the Authority are the responsibility of the Chief Executive Officer and his staff.
Legal and Regulatory Framework
Section 102 of the Capital Markets Authority Act (Cap. 84) empowers CMA to make regulations prescribing any matter required or permitted by the Statute to be prescribed for carrying out or giving effect to the Statute.