To improve corporate governance, the Capital Markets Authority (CMA) has limited company secretaries to serve a maximum of three listed firms at any given time.
The Authority's move to curb cases of over-commitment is its latest attempt to improve corporate governance.
In its latest report on the state of corporate governance for Nairobi security exchange-listed firms, the regulators say they noticed an increasing trend of company secretaries serving multiple firms concurrently.
According to the authority, the potential for overcommitment raises concerns about the ability to provide dedicated and effective service.
