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Regulatory framework on Collective Management Organizations.

We started the year with spearheading the process of developing a regulatory framework dubbed the Collective Management Organizations (CMO) Regulations for the collective management industry. For the longest time there was no regulation that guided the promotion of the values of Transparency, Accountability and Governance in the industry. The outcome is of this regulation shall definitely improve the operations of CMOs through enhanced supervisory structures.

PRISK alongside other CMOs guided by the oversight body, KECOBO, set out to engage key stakeholders in the industry across the country through interactive forums. This public participation was geared towards collecting views that will also form part of the final regulations.

The main objective is to set in place statutory parameters and standards for assessing the performance of CMOs as well as conditions and procedures under which a CMO can be put to task to prove its commitment to upholding the required standards of service delivery to its members/rights owners.

 

This will consequently increase licensing activities since industry is expected to register greater levels of confidence in the operations of CMOs; consequently, rightsholders shall get more royalties from the CMOs. Find out more via this link and get your copy of the draft CMO Regulations insert link to CMO regulations website

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