ADVOKS GLOBAL · KENYA
The Capital Markets (Licensing Requirements)(General) Regulations, 2025
16. Applications for licences and specific requirements for approval
Edition: 2025-12-11 · In force
16. Applications for licences and specific requirements for approval
(1)Any person who intends to carry on business as an investment bank shall apply to the Authority for a licence in Form 1 as set out in the First Schedule and accompanied by the fees specified in the Sixth Schedule.(2)An application under subregulation (1) shall be accompanied by—(a)the certificate of incorporation;(b)the articles and memorandum of association;(c)the audited financial statements for the preceding two years, where applicable, and unaudited financial statements for the period of the accounting year ending not earlier than six months prior to the date of application;(d)a business plan containing the particulars set out in the Second Schedule of these Regulations;(e)evidence of paid-up share capital of a minimum amount of one hundred and fifty million shillings;(f)anti-money laundering, know your client, and counter financing of terrorism procedures as prescribed by the Authority;(g)a statement on the qualifications, experience and expertise of the chief executive officer and key staff that are relevant to effectively carry on the business of an investment bank;(h)proposed operating systems and infrastructure suitably located and equipped to provide satisfactory services to clients; and(i)written confirmation from the securities exchange to which the applicant is seeking admission as a trading participant that the applicant shall be admitted upon securing a license from the Authority.