ADVOKS GLOBAL · KENYA
The Capital Markets (Derivatives Markets) Regulations
55. Grant of licence
Edition: 2025-02-14 · In force
55. Grant of licence
(1)The Authority, shall, within thirty days from the date of application, grant a licence to an applicant, if the Authority is satisfied that the applicant is eligible to be licensed as a derivatives broker.(2)The Authority shall duly inform the derivatives exchange and the applicant of the grant of a licence under subregulation (1).(3)A licence granted under subregulation (1) shall remain valid unless suspended or revoked.(4)The, Authority shall not refuse to grant a licence without first giving the applicant an opportunity of being heard.(5)Where the Authority, after hearing the applicant, refuses to grant the applicant a licence, the Authority shall communicate the decision to the applicant and the derivatives exchange within fourteen days of the hearing, stating the grounds for refusal.(6)An applicant aggrieved by the decision of the Authority under subregulation (5) may appeal against such refusal to the Capital Markets Tribunal within fifteen days of receipt of the decision of the Authority.