The Capital Markets (Conduct of Business) (Market Intermediaries) Regulations

26. Prevention of money laundering, etc

Edition: 2022-12-31 · In force

26. Prevention of money laundering, etc

(1)A market intermediary shall, on each occasion that a client places an investment order with it, obtain from the client—

(a)details relating to the origin and source of the money or funds used or to be used for the investment;

(b)where the money or funds originate from outside Kenya, a confirmation from the remitting entity of the nature of the client’s business and details relating to the source of the money or funds; and

(c)a written declaration by the client confirming—

(i)the accuracy of all information given under subparagraph (a) or (b); and

(ii)that the money or funds used for the investment in securities does not arise from the proceeds of any money laundering or other illicit activities.

(2)A market intermediary shall keep and maintain the information obtained from a client under paragraph (1) as part of the records required under regulation 32.

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Source: Kenya Law