Evaluating the case for a unified model of regulation in the financial services sector in Kenya

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dc.contributor.authorNdichu, Lilian Wanjiku
dc.date.accessioned2022-09-21T09:16:04Z
dc.date.available2022-09-21T09:16:04Z
dc.date.issued2021
dc.descriptionSubmitted to the Faculty of Law in partial fulfillment of the requirements for the award of the Master of Laws (LLM), at Strathmore Universityen_US
dc.description.abstractThe Financial services sector plays a crucial role in the economy of any country. To make sure that the financial sector is stable, it is prudent to regulate it. A sound regulatory framework is thus important to safeguard the smooth operation of the financial sector. In Kenya, the current regulatory framework has been marred by a multitude of challenges due to the dynamic changes that have been experienced in the sector such as technological innovations. This has resulted to regulatory gaps and overlaps which have led to regulatory arbitrage. To resolve some of these challenges, reforms in the regulatory framework have been proposed including the introduction of a unified model of regulation. A unified model of financial regulation is one where there is one single regulator for the whole financial services industry. The current regulatory framework in Kenya is set along sectoral lines such that there is a single regulator for every sector in the financial industry and this has been marred by multitude of problems including regulatory overlaps and gaps. In its search for the most optimal model of financial regulation in the financial services sector, Kenya has introduced reforms towards improving the current regulatory framework and to also ensure alignment to international practices. This paper analyses effectiveness of the current regulatory framework in the Kenyan financial market and the rationale for the proposed model of a unified regulator for the Kenyan financial services against the background of the general objectives of financial regulation and the different models of financial services regulation adopted in other jurisdictions to determine the most suitable model of regulation for the financial services sector in Kenya.en_US
dc.identifier.urihttp://hdl.handle.net/11071/12929
dc.language.isoenen_US
dc.publisherStrathmore Universityen_US
dc.subjectUnified modelen_US
dc.subjectFinancial services sector_Kenyaen_US
dc.subjectRegulationen_US
dc.titleEvaluating the case for a unified model of regulation in the financial services sector in Kenyaen_US
dc.typeThesisen_US
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LLM Theses and Dissertations (2021)