ADVOKS GLOBAL · KENYA
Capital Markets Act
32B. Insider trading
Edition: 2025-12-11 · In force
32B. Insider trading
(1)A person who deals in listed securities or their derivatives that are price-affected in relation to the information in his possession commits an offence of insider trading if that person—(a)encourages another person, whether or not that other person knows it, to deal in securities or their derivatives which are price-affected securities in relation to the information in the possession of the insider, knowing or having reasonable cause to believe that the trading would take place; or(b)discloses the information, otherwise than in the proper performance of the functions of his employment, office or profession, to another person.(2)For the purposes of subsections (1) and (2), a person deals in securities or their derivatives if, whether as principal or agent, sells, purchases, exchanges or subscribes for any listed securities or their derivatives or acquires or disposes of, or agrees to acquire or dispose of the right to sell, purchase, exchange or subscribe for any listed securities or their derivatives.(3)A contract shall not be void or unenforceable by reason only of the commission of an offence under this section.