ADVOKS GLOBAL · KENYA
The Capital Markets (Investment-Based Crowdfunding) Regulations
8. Rules for the operation of business
Edition: 2022-12-31 · In force
8. Rules for the operation of business
The Rules of the crowdfunding platform operator shall provide for—(a)criteria for on boarding its users including issuers and investors;(b)procedure for transfer of proceeds for each funding round and monitoring of the proceeds;(c)code of conduct and ethics for its users including misconduct and proposed penalties;(d)general obligations and liability of its platform users;(e)rules and procedure for their trading facility (if any);(f)proposed communication policy;(g)cyber security, backup systems and disaster recovery mechanisms for the platform;(h)protection of investors and public interest;(i)promotion of fairness and transparency in the market;(j)management of conflicts of interest that may arise including disclosures to be made where the crowdfunding platform operator or its employees participate in a crowdfunding transaction;(k)promotion of fair treatment of its platform users;(l)resolution of disputes and provision for appeal to the Authority;(m)fees and associated costs to be charged to the crowdfunding platform users; and(n)any other matter as may be required by the Authority.