摘要：This paper discusses the effect of financial sector regulation on the financial market performance in Kenya this is line with the Modernization in Sub-Saharan Africa financial market which has historically not been a reaction to financial crises. It is typically a product of piece-meal reform and gradual evolution coupled with the anxiety to replicate developments in other jurisdictions regulatory reforms emblematizes this phenomenon. Recent financial crises have demonstrated the need to keep domestic and global regulatory systems under constant review to ensure that they grow in tandem with market demands and remain dynamic and relevant. However, history is replete with dramatic exemplifications of the actuality that regulatory modernization is crisis driven. Regulatory frameworks in many jurisdictions are increasingly being shaped by crises. This paper discusses the Role of central Bank, Capital markets Authority, Insurance Regulatory Authority and Retirement Benefit Authority in regulation the financial sector and the effect it has on the financial market performance and concludes on the major role of central bank and possible recommendation on the regulatory gap.
