The Capital Markets Authority has announced the appointment of Wyckliffe M. Shamiah as acting Chief Executive at the Capital Markets Authority (CMA) effective January 1, 2020. This follows Paul Muthaura's tenure as chief executive coming to an end. An old hand in the sector, prior to his appointment, Shamiah served as the Director Market Operations a position he held since November 2011 and has held multiple senior positions in market supervision, research, financial analysis and compliance at the authority which positions he has held over a period of 22 years. During this period, Shamiah has been the nominee of the Capital Markets Authority to the Council of the Institute of Certified Public Accountants of Kenya for more than 10 years and a representative of the Authority to the Financial Stability Board Regional Consultative Committee for Sub-Saharan Africa. A Fellow of the Institute of Certified Public Accountants (FCPA)(K),he holds a Masters in Business Administration (Finance Option) from the University of Nairobi and a Bachelor of Arts Degree in Mathematics and Economics from Egerton University. In a statement from CMS board, Shamiah is said to have played a critical role in the development of a robust Risk Based Supervision regime at the Authority, championed proactive investigations and enforcement, oversaw the roll out of new financial market infrastructure at the Nairobi Securities Exchange (NSE) and Central Depository and Settlement Corporation (CDSC) and is currently the Chair of the Sandbox Review Committee which coordinates the Regulatory Sandbox established by the Authority to support financial technology in the capital markets. "The Authority has noted that Mr. Shamiah\u2019s appointment as Acting Chief Executive will support the Authority to continue the implementation of its Strategic Plan 2018-23 and the industry 10 Year Capital Markets Master Plan," read the Board statement in part. The move stands until the appointment of a substantive office holder by the Cabinet Secretary, National Treasury and Planning following recommendations made by the Board.