The Capital Markets Authority of Kenya, also Capital Markets Authority (CMA), is an independent government regulating agency responsible for supervising, licensing and monitoring the activities of market intermediaries, including the stock exchange. and the central depository and settlement system and all the other persons licensed under the Capital Markets Act of Kenya.The Capital Markets Authority (CMA) provides regulation for the financial services sector by providing guidelines for the asset allocation. In the Capital Markets Act Cap 485A amended in 2013 guidelines for the amount of funds to be invested in each class of assets i.e. equities, government bonds and bills are given in ranges.