The Registration Committee shall consist of eight members to be appointed by the Council as follows:
- a chairperson appointed from the Institute;
- one person to represent the Ministry responsible for finance;
- one person nominated by the Examinations Board;
- one person to represent the securities exchanges;
- one person nominated by the Capital Markets Authority;
- two persons nominated by the Council to represent The Institute; and
- one person, not being a member of the Institute, nominated by the Council to represent the users of services provided by securities and investments analysts.
Purposes of the registration committee
- Receive, consider, and approve applications for registration as a certified investment and financial analyst
- Grant practising certificates and annual licenses in accordance with the provisions of the Act
- Monitor compliance with professional, quality assurance, and other standards published by the Council for observance by the members of the Institute
- Prescribe regulations to govern quality assurance programmes, including actions necessary to rectify deviations from established standards
- Where appropriate and based on the results of a quality assurance review, recommend to the Council that a member's conduct be referred for inquiry
- Advise the council on matters pertaining to professional and other standards necessary for the achievement of quality assurance
- Cancel certificates in accordance with the Act
Registration Committee Chairman
FA Lazarus Kimang’a, SS, C St J
FA Lazarus Kimang’a has previously served as Chairman of the Institute and as General Manager and Company Secretary of East Africa Re. He is Company Secretary of WAICA Re (Kenya) and has been appointed as Vice-Chairman (“Deputy Prior”) of St John Ambulance Kenya. He holds MCom in International Business Management from Strathmore University and MBA in Finance from the University of Nairobi and also trained in Financial Management at Templeton College, University of Oxford. He is on a research programme, Heriot-Watt University, Edinburgh. He is a Fellow Certified Public Accountant (FCPA) and Fellow Certified Secretary (FCS) as well as a Certified Investment and Financial Analyst (CIFA).
He is a Board member of the Public Sector Accounting Standards Board (PSASB) and serves as Chairman of the Governance and Strategy Committee. In the Insurance Industry, he has served as Secretary General of the Organisation of Eastern and Southern Africa Insurers (OESAI) and as a Board member of the College of Insurance, Nairobi. In the banking sector, he has served as a Board member and as Chairman of the Board Audit Committee of K-Rep Bank. In the education sector, he has served as a member of the Board of Management of Nairobi School. He is Chairman of the Registration Committee of the Institute of Certified Investment and Financial Analysts (ICIFA).
He was conferred with a Presidential Award of the Silver Star of Kenya (SS) in recognition of his contribution to the nation and was granted the Dignity of a Commander in the Most Venerable Order St John (C St J) by the Duke of Gloucester.
Purposes of the disciplinary committee
The Disciplinary Committee consists of eight members:
- three members of the Institute
- one nominated by the Council from another profession other than Securities and Investment Analysts;
- one nominated by the Attorney-General;
- one nominated by the Institute of Certified Public Secretaries of Kenya;
- one nominated by the Capital Markets Authority;
- one nominated by the Cabinet Secretary in charge of the National Treasury.
Where the Council has reason to believe that a member of the Institute may have been guilty of professional misconduct it shall refer the matter to the Disciplinary Committee which shall inquire into the matter.
On the completion of an inquiry under section 28 into the alleged professional misconduct of a member of the Institute, the Disciplinary Committee shall submit to the Council a report of the inquiry which shall include recommendations for further action.
Where the Disciplinary Committee, in a report makes a recommendation to the Council shall inform the member concerned of the action to be taken against him and effect the recommendation of the Disciplinary Committee.
A member aggrieved by a determination of the Disciplinary Committee may make an appeal to the Council within sixty days of the communication to him of such determination, providing the grounds upon which the appeal is lodged.
Disciplinary Committee Chairman
FA Nguru Wachira
FA Nguru Wachira is Chairman of Disciplinary Committee of the Institute. He is a management practitioner, consultant and trainer. He is a qualified Accountant, Chartered Secretary and Stockbroker. He has extensive corporate finance, finance management and consulting experience spanning over 35 years. He is Chairman and founder of the Unlimited Profit Opportunity (UPO) Limited. He is also a founder and CEO of WIA East Africa Limited. He is a past Chairman the Institute of Certified Investment and Financial Analyst (ICIFA), a past chairman of the Institute of Certified Public Accountants of Kenya and past member of the Council for the East, Central and South Africa Federation of Accountants. He has headed teams of International Consultancy experts in East and Central Africa region on assignments commissioned by the World Bank, DFID, Commonwealth Development Corporation and the European Investment Bank.