Appeal a Capital Markets Authority (CMA) decision at the Capital Markets Tribunal
Judiciary Tribunals · sources read 3 Oct 2026
If a Capital Markets Authority or Investor Compensation Fund Board decision hurts you, such as a licence refused or revoked or investor compensation denied, appeal to the Capital Markets Tribunal. Filing the appeal costs KSh 10,000 and cases are meant to be decided within 60 days.
- Fee
- KSh 10,000Presenting a memorandum of appealKSh 1,500Filing any other document
- How long
- Up to 60 days from filing (often sooner). Judgment within two weeks of the hearing.
- Where
- Online on the Judiciary e-filing portal (efiling.court.go.ke). Email: cmt@court.go.ke.
What you need
- A statement of claim (the form is on the Judiciary website, judiciary.go.ke)
- Supporting documents and statements
Steps
- Fill in the statement of claim and file it with your supporting documents through the Judiciary e-filing portal (efiling.court.go.ke).
- Serve the respondent (for example CMA) with a copy of your claim and documents, then file a Certificate of Service.
- Stuck on the portal? Go to the nearest court station or email the tribunal at cmt@court.go.ke.
- The respondent has 7 days after service to respond. If it doesn't, the tribunal can enter judgment for you.
Watch out
- You can't file here if the same case is still going on in another court, unless you withdraw it there first or a higher court transfers it.
- You don't need a lawyer. You can file in person or use a representative, who may be an advocate.
- Unhappy with the tribunal's decision? You can appeal to the High Court (Civil Division), and that appeal is final.
Who can apply
- Individuals, groups or associations
- Anyone hurt by a CMA decision to refuse, restrict, suspend or revoke a licence
- Investors refused compensation after losing money when a licensed stockbroker or dealer failed
Official sources (4)
- Tribunals Frequently Asked Questions (Capital Markets Appeals Tribunal section) tribunals.judiciary.go.ke · read 3 Oct 2026
- Capital Markets Tribunal (Tribunals website) tribunals.judiciary.go.ke · read 3 Oct 2026
- Know Your Tribunals tribunals.judiciary.go.ke · read 3 Oct 2026
- Capital Markets Tribunal Fees (Capital Markets Act rules, Schedule, Rev. 2012) tribunals.judiciary.go.ke · read 3 Oct 2026