Work

Enhancing regulatory clarity through insights on retroactive and retrospective applications of the unclaimed financial asset act in Kenya

Year: 2024

Type: conference-paper

Abstract: This study delves into Kenya’s Unclaimed Financial Assets Act, examining its retrospective application in finance. While grounded in English Common Law, the Act faces hurdles in reporting and compliance due to its retroactive nature. Through analysis, it uncovers limitations and stresses stakeholder involvement, regulatory clarity, interpretation flexibility, and education for compliance. Its insights benefit policymakers and stakeholders grappling with unclaimed financial assets in Kenya’s regulatory evolution.

Source: Business and management

DOI: 10.3846/bm.2024.1289

Authors: Kellen Kariuki, Ruth Kiraka, Hellen Otieno

Institution: Strathmore University

Language: English

Topic: Regulation and Compliance Studies

Subfield: Strategy and Management

Field: Business, Management and Accounting

Domain: Social Sciences

SDG: Peace, justice, and strong institutions

Open Access status: hybrid

OpenAlex ID: W4402866978