Nairobi, June 22 -- The Fund Managers Association (FMA) is seeking powers to police players in the industry and has begun the pursuit of a self-regulatory organisation licence from the Capital Markets Authority.

The 18-year-old coalition, which promotes professional standards and industry development, currently composed of 19 fund managers, has partnered with the specialist development agency, FSD Africa, which will provide financial and technical support in its quest for the regulatory nod.

A self-regulatory organisation (SRO) is a non-government institution with powers to create and enforce stand-alone industry and professional regulations and standards of its own.

Financial sector SROs mostly serve to protect investors by establishi...