{"id":25137,"date":"2021-03-31T19:00:23","date_gmt":"2021-03-31T19:00:23","guid":{"rendered":"https:\/\/www.africa-press.net\/kenya\/?p=25137"},"modified":"2021-03-31T19:00:23","modified_gmt":"2021-03-31T19:00:23","slug":"govt-to-pay-whistleblowers-ksh5m-in-new-regulations","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/economy\/govt-to-pay-whistleblowers-ksh5m-in-new-regulations","title":{"rendered":"Govt to Pay Whistleblowers Ksh5M in New Regulations"},"content":{"rendered":"

AfricaPress-Kenya:<\/strong> The government through the National Treasury\u00a0has unveiled an award payment scheme in which all whistleblowers will be awarded based on certain conditions.<\/p>\n

The National Treasury on Tuesday, March 31 published the new proposed regulations on how whistleblowers would be paid in a bid to encourage more Kenyans to report misuse, theft of corporate funds.<\/p>\n

CS Ukur\u00a0Yatani\u2019s ministry said that the payment scheme is set to encourage citizens to report any malpractices in the capital market.<\/p>\n

\n
\"A<\/div>\n
The National Treasury offices at Harambee Avenue, Nairobi<\/div>\n
<\/div>\n<\/article>\n

In the proposal, every whistleblower will be paid 3 percent of the recovered amount with the maximum amount payable being Ksh5 million.<\/p>\n

The\u00a0new regulations\u00a0will also see the government protect those who come forward with corporate-related fraud cases.<\/p>\n

\u201cA whistleblower\u2019s identity and such other confidential information of the whistleblower shall not be disclosed unless required by law or an order of the court,\u201d the regulation reads in parts.<\/p>\n

Additional details of the Capital Markets Authority\u00a0– Whistleblower – Regulations 2021 indicate that the regulators will be finding and making recommendations on what hinders people from volunteering to give such information.<\/p>\n

\u201cThe Witness Protection Act shall be applicable to the protection of a whistleblower who qualifies for such protection as is prescribed under that Act,\u201d regulations stated.<\/p>\n

The government also said that the Capital Markets Authority will boost the confidence of investors since citizens will be motivated to report irregularities such as price manipulation, cooking of financial statements, theft and breach of the governance code.<\/p>\n

CMA proposed regulation has now been taken to the public for additional views before it is implemented.<\/p>\n

Kenya\u2019s market regulator had opened an online portal in which fraud reports were to be submitted but it went for over one year with even one submitted case. The regulator then introduced the award system in a bid to\u00a0encourage public participation.<\/p>\n

In 2018, they then introduced the award in amendments to the CMA Act but has never been in effect because the regulations had not been published until March 30, 2021.<\/p>\n","protected":false},"excerpt":{"rendered":"

AfricaPress-Kenya: The government through the National Treasury\u00a0has unveiled an award payment scheme in which all whistleblowers will be awarded based on certain conditions. The National Treasury on Tuesday, March 31 published the new proposed regulations on how whistleblowers would be paid in a bid to encourage more Kenyans to report misuse, theft of corporate funds. […]<\/p>\n","protected":false},"author":84,"featured_media":25114,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[451,8055],"class_list":["post-25137","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-national-treasury","tag-whistleblower"],"yoast_head":"\nGovt to Pay Whistleblowers Ksh5M in New Regulations - kenya<\/title>\n<meta name=\"description\" content=\"The government through the National Treasury\u00a0has unveiled an award payment scheme in which all whistleblowers will be awarded\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/economy\/govt-to-pay-whistleblowers-ksh5m-in-new-regulations\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Govt to Pay Whistleblowers Ksh5M in New Regulations\" \/>\n<meta property=\"og:description\" content=\"The government through the National Treasury\u00a0has unveiled an award payment scheme in which all whistleblowers will be awarded\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/economy\/govt-to-pay-whistleblowers-ksh5m-in-new-regulations\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-31T19:00:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2021\/03\/6064c3afadd90-6064c3afadd91Cabinet-Secretary-for-Treasury-Ukur-Yatani-speaking-during-the-Child-Protection-Conference-in-Nairobi-on-August-8-2019..jpg.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"470\" \/>\n\t<meta property=\"og:image:height\" content=\"235\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/govt-to-pay-whistleblowers-ksh5m-in-new-regulations#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/govt-to-pay-whistleblowers-ksh5m-in-new-regulations\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Govt to Pay Whistleblowers Ksh5M in New Regulations\",\"datePublished\":\"2021-03-31T19:00:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/govt-to-pay-whistleblowers-ksh5m-in-new-regulations\"},\"wordCount\":346,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/govt-to-pay-whistleblowers-ksh5m-in-new-regulations#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2021\/03\/6064c3afadd90-6064c3afadd91Cabinet-Secretary-for-Treasury-Ukur-Yatani-speaking-during-the-Child-Protection-Conference-in-Nairobi-on-August-8-2019..jpg.jpg\",\"keywords\":[\"National Treasury\",\"Whistleblower\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/economy\/govt-to-pay-whistleblowers-ksh5m-in-new-regulations#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/govt-to-pay-whistleblowers-ksh5m-in-new-regulations\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/economy\/govt-to-pay-whistleblowers-ksh5m-in-new-regulations\",\"name\":\"Govt to Pay Whistleblowers Ksh5M in New Regulations - 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