Kenyan regulator, NSE lock horns over new ‘recovery’ board for troubled firms
A proposed 'recovery' board for Nairobi Securities Exchange-listed companies that fall into financial or management trouble is expected to go live in April. PHOTO | FILE | NATION MEDIA GROUP
The Kenyan capital markets regulator is locked in a tussle with the Nairobi Securities Exchange over the proposed introduction of a separate trading board for listed companies that fall into financial or management trouble.
While the Capital Markets Authority sees the new “recovery” board as a necessary buffer to protect innocent investors seeking to buy shares of the ailing companies, the NSE views the move as tantamount to condemning and shaming its members.
